Bulls Stand Their Ground

I'm stunned. The buyers didn't cave. They are a bunch of Stonewall Jacksons if you ask me. I'm surprised they didn't take Goldman Sachs (GS - commentary - Trade Now) back to even!

After the rally we have had, if this is all the bears can muster after a Meredith Whitney Goldman smackdown, oil reversal and Johnson & Johnson (JNJ - commentary - Trade Now) hammering, what happens when we get some good earnings and recommendations?

Maybe what's happened is that we all recognize that the health care debate is about to wind up and the panicking congress is going to start with the shovel-ready projects. Maybe Congress recognizes that it is time to stop destroying the hopes of businesses and start giving business people some hope?

Under my theory, if Congress starts talking CO2 when this health care deal is done rather than employment, then the kind of buying we saw when we were down today is going to disappear and the kind of worry we had in the rundown from Dow 9,900 to Dow 9,400 will be back.

Of course, we could be in some sort of expiration-blessed day that will be followed by an expiration hell as was once the case until this incredibly benign period began.

But I think that the jobs are coming, and nobody wants to get in the way of the soon-to-be-created employment stimulus out of Washington, least of all those who want to own dollars that cascade on more stimulus.

At the time of publication, Cramer was long Goldman Sachs.

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Special note from Jim: If my take on these stocks intrigues you, there's much, much more in my brand-new book, Getting Back to Even, which I'll send to you as part of a special promotion when you sign up for my Action Alerts PLUS service for a limited time. So if you sign up now, you'll get to see how I'm playing these stocks in my portfolio today, plus I'll teach you how you can play these stocks to help your portfolio get back to even.

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At the time of publication, Cramer was long Goldman Sachs.

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