Auto Numbers Were Bad ... And?

Did anyone think the auto numbers were going to be good? Does anyone think November's retail sales will be good? What are these people smoking?

The issue isn't how bad they are; it's whether some of these numbers, if not all of them, are priced in.

The expectations during this whole downside have been wildly off the mark. It's like nobody's taking into account the nest of horrible -- house price depreciation, tighter credit, worries about jobs.

I think at a certain point those will be in, and what won't be in will be lower oil prices -- apropos of the battle between Doug and me.

Not there yet, but the endless disbelief and breathlessness about the auto numbers makes no sense.

They just ain't selling. They won't until things get better. And they have just gotten worse!

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Know what you own: Cramer mentions oil. Companies that might be affected by the price of crude include Chevron (CVX - commentary - Cramer's Take), ExxonMobil (XOM - commentary - Cramer's Take), BP (BP - commentary - Cramer's Take), Marathon (MRO - commentary - Cramer's Take), Shell (RDS.A - commentary - Cramer's Take), Transocean (RIG - commentary - Cramer's Take) and Valero (VLO - commentary - Cramer's Take).

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