Goldman Sachs Bears Hit a Low Point

So Goldman Sachs (GS - commentary - Cramer's Take) did it. Fifty-two week high.

The bears are running for cover now for sure, because the whole negative case on this one was "It didn't go to a 52-week high when it reported that great quarter, so it must not be going up at all. It must be the end of the strong earnings." More nonsense from those who believe it is prudent to be bearish and cautious.

I was thinking that the sports analogies work well here. We accept streaks in sports. We don't like coaches who over and over again go with the same cautious game plan. We believe that the coach is key, integral to the success of the franchise.

But in this environment, people believe Lloyd Blankfein can't keep up the streak, even if that streak is just a few quarters old. In fact, it doesn't matter who is coach at Goldman. We want him to be conservative with his capital.

That's all wrong. But these are all reasons that Goldman's multiple is so low.

Now, it seems, that it is at last changing.

Random musings: I wish Eddie Lampert had waited until next week to preannounce Sears' (SHLD - commentary - Cramer's Take) fourth-quarter upside. That way he finally would have wrecked the constant option pinning down of this stock that occurs every quarter. Remember, four out of five analysts have to raise numbers Thursday on Sears, as Goldman's guy already has.

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

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