Upgrades Speak to General Bullishness

All aboard!

That's the only way I can explain a series of upgrades today that makes very little sense to me: Amazon (AMZN - commentary - Cramer's Take), Union Pacific (UNP - commentary - Cramer's Take) and Texas Instruments (TXN - commentary - Cramer's Take).

Lets start with Amazon. This one's deeply troubling, because I don't see that much value added. Amazon is, in the end, a retailer, and as I peruse the Goldman upgrade, I get the sense that the call is basically a catch-up to others, including Google (GOOG - commentary - Cramer's Take). I see that the analyst believes there will be stable margins. To me, I would make it a gasoline play, but that's not what the emphasis is, and it makes very little sense to me otherwise, but that could be my intense bias against retail. No matter, a vicious short squeeze has this one going great guns.

Then there is the Texas Instruments upgrade. There is no end market in which I see a lot of growth for TXN, particularly the cell phone market, but also the DLP/TV market. Citigroup's upgrade feels very much like, "OK, the group's rallying, I am on board."

Finally, there is the absurd Stifel Nicolaus of Union Pacific. I like UNP and I have been behind the rails literally for three years. They were among the first recommendations of "Mad Money," and I have steadily backed them time and again. But to come in here, now, without a selloff, with the group in a straight line? I mean, you have to be kidding me -- especially when he downgraded the stock at $99. OUCH!

To me, though, these are all about the big bullishness wave that I see coming that can be easily tapped into. In fact, I think the bullish reaction to these upgrades is more important than the upgrades themselves, because it shows that there is so much pent-up demand for new ideas and so much money sloshing around on the sidelines.

Plus, here we are again, with another Mutual Fund Monday with the money coming in over the transom. Again, that's a big function of the change in cash rates and the need to find something else besides CDs to put money into.

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

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com.