Looking for Reasons

Finally, a powerful Deere (DE - commentary - Cramer's Take) upgrade this morning -- a favorite of mine -- is putting a bid in on ag. By the way, I do hope you sold the Monsanto (MON - commentary - Cramer's Take). Please say you did!

Another thesis: bifurcation in financials. The models of Goldman Sachs (GS - commentary - Cramer's Take) and Morgan Stanley (MS - commentary - Cramer's Take) -- advisory and brokerage -- seem to be trumping, once again, the models of homeownership mortgages/deposit banks, and that emboldens people that banks are not a total black hole. The hatred of JPMorgan's (JPM - commentary - Cramer's Take) Jamie Dimon -- newfound thesis -- seems overdone to me. But we know from the IndyMac buy the other day that he has overpaid for Washington Mutual, as the IndyMac buyers are budgeting for a 55% default of mortgages, not the mid-20s that JPM figured.

A tame selloff from overbought levels and a shrug off of Wal-Mart -- as we have had about Dow disappointments Alcoa (AA - commentary - Cramer's Take) and Intel (INTC - commentary - Cramer's Take) -- would be more bullish than I thought. I believe that Wal-Mart will not go to $50 based on my thesis of Dow bounces.

I want to emphasize that I am still concerned that we are way too overbought, which means that I can't be a net buyer of anything. I know that the money is flowing back into the market.

Random musings: OK, here's the hottest thing on the site network: Gary Krakow's excellent reporting from CES. I am loving this idea of Medis Technologies (MDTL - commentary - Cramer's Take), a spec name for fuel cells. I never recommend stocks under a buck, and I am not doing it now. I just like the reportage and the idea of the product! The company has no sales and no earnings, but the patent sounds exciting.

At the time of publication, Cramer was long Wal-Mart, Goldman Sachs, Morgan Stanley, JPMorgan, Deere, Celgene, Abbott, Bristol-Myers and Foster Wheeler.

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