Tough Enough?

Sometimes it's worth thinking why it is so hard. Why does it seem at this level that things are so difficult?

I think I know the answer: It's because the picture right now is very mixed. We have strong housing data and weak housing data. We have some banks needing more capital, as Huntington Bancshares (HBAN - commentary - Trade Now) needed recently, and we have other banks doing fabulously -- JPMorgan Chase (JPM - commentary - Trade Now) is a good example. We have retailers with down comps (almost all of them), but they are making more money with fewer sales. We have equipment sales at a Caterpillar (CAT - commentary - Trade Now) falling off a cliff, but the stock is reflecting future stimulus and China. We have International Paper (IP - commentary - Trade Now) coming on my show last week saying business isn't picking up, but we have paper sales data that are strong -- for instance, see my note just put out in Action Alerts PLUS about Weyerhaeuser (WY - commentary - Trade Now). We have gold up, which can signal chaos, inflation or strength in the economy. We have copper down but after a huge run. We have oil down, but after a huge run.

Meanwhile, we have some stocks that have run that have stalled -- Citigroup (C - commentary - Trade Now), Bank of America (BAC - commentary - Trade Now) and Wells Fargo (WFC - commentary - Trade Now) -- which would indicate that business isn't that strong, but maybe the stocks are just resting. We have two huge programs -- Cash for Clunkers and the $8,000 tax credit for first-time home buyers -- that either may or may not have played a huge roll in pumping up sales. We don't know yet.

And that's the real answer: We don't know yet.

So without information, it's possible to make a reliable bull or bear case. We will soon have an important data point about employment, but we also are in earnings season in a couple of days. It is hard to take your cue from the market right now because of end-of-the-quarter shenanigans. It's tough because it should be tough. There is no clear path.

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At the time of publication, Cramer was long JPM, WY, BAC and WFC.

Jim Cramer is co-founder and chairman 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.

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