Playing the Bounce

Editor's note: Jim Cramer will present his 2009 stock outlook for the first time at TheStreet.com Investment Conference on Saturday, Oct. 25. Limited seating. Act now.

I see the plan: Every day that the market looks like it is going down we give $10 billion to some bank! It is sure-fire. Did you notice the momentary weakness in France Monday? Quick, cut checks to BNP (BNP - commentary - Cramer's Take), SocGen and Agricole. Why not? When ING (ING - commentary - Cramer's Take) looked like it was a disaster, giving $13 billion to that one-time conservative bank turned all of Europe around!

Monday, when there was a moment that we looked weak, when it looked like we were going to go from plus 200 to below 100, Treasury let it be known that there is a whole other round of checks coming for the second-tier players. Who knows? Boom. That plus higher oil prices turned the market around in the upside-down world we are now in! No doubt soon Downey (DSL - commentary - Cramer's Take) and BankUnited (BKUNA - commentary - Cramer's Take) might get checks and then everything will go higher.

Oh, and on top of that, we have a new stimulus plan, one specially designed, no doubt, to move Target (TGT - commentary - Cramer's Take) back to its moving average and get Macy's (M - commentary - Cramer's Take) off the critical list.

All of these things are "good." Lowering ECB rates would be ''good." Having more commercial paper would be "good."

They are all "good."

But the only substantive thing I saw Monday that I liked was Exelon's (EXC - commentary - Cramer's Take) move to take out a player that needed short-term financing, NRG (NRG - commentary - Cramer's Take), just like Buffett took out another player who needed short-term financing and struggled to get it, Constellation (CEG - commentary - Cramer's Take).

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