Slow and Steady Up Move Preferred

If commercial paper is flowing, and the Boeing (BA - commentary - Cramer's Take) strike is over, you have to wonder how much longer they can keep General Electric (GE - commentary - Cramer's Take) down below $20.

You also have to wonder when the company will use its cash and stock to roll up a bunch of companies that are down so low that it might be one of those moments when an opportunistic company can strike, especially a company that is trying to diversify away from financial services.

We know the credit markets are improving. We know that rates are coming down around the world. We know that there is more liquidity coming. And we know that not all earnings reports are bad.

But we don't know if the deleveraging, the selling of just about everything, has stopped yet. We know that today's a mark-up day. We know that there are plenty of funds that need to have stocks higher. We know that mutual funds have finished selling for their fiscal year. The time is right for the market to go higher.

Unfortunately, what has happened in these moves is that there is no room for upside after a run like this. For example, Chevron (CVX - commentary - Cramer's Take) has repeatedly run out of gas at this level. Wal-Mart (WMT - commentary - Cramer's Take) just put on a month's worth of points in the last few minutes. Lots of 10% gains on the screen.

And that's not good. It's not what we want to see. We need slow and steady so many people can get in, not fast and unsteady so you come in on quicksand and quickly go under at the first sign of the next liquidation.

At the time of publication, Cramer was long Chevron, General Electric and Wal-Mart.

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.