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What companies really benefit from a higher gross domestic product number? I will give you the answer: the ones that have ALREADY benefitted.
In other words, it's a backward-looking number that portends not better times ahead, but better times already had. I am totally focused on the SPX (SPW - commentary - Trade Now) number last night and how some companies that are largely domestic aren't seeing the turn. SPW's not alone. Dan DiMicco, who runs the biggest and best steel company in this country, isn't seeing the turn at all. What kind of turn doesn't include Nucor (NUE - commentary - Trade Now)? Of the rails, the only company that made me feel things are getting better is CSX (CSX - commentary - Trade Now). The others left me confused at best. If GDP is going to stay strong, I want to hear that everything's already stronger. So, go pick at some Citigroup (C - commentary - Trade Now) or some US Steel (X - commentary - Trade Now). We can bounce. We can get marked up. We are oversold. The bears did over-press their case. People did get too negative, as per my Visa article. But never forget that strong GDP is about as unimportant to 2010 as you can get, and may even be detrimental to 2010. Random musings: Red-hot article about the hypocrisy of Senator Bayh and his conflict on the healthcare issue because of his wife's board seat on Wellpoint (WLP - commentary - Trade Now). Worth reading and commenting on. More random musings: Lincoln National's back (LNC - commentary - Trade Now) and I am thrilled. This is a company that had really slaughtered people and it is finally back in the black. I salute them even as they gaffed a huge number of people in this stock. At the time of publication, Cramer was long GS.
Special note from Jim: You can learn my time-tested ways to trade smart, even in this market. All my latest thinking is in my brand new book, Getting Back to Even, which I'll send to you as part of a special promotion when you sign up for my ActionAlertsPlus.com service for a limited time. So if you sign up now, you'll get to see how I'm playing these stocks in my portfolio today, plus, I'll teach you how you can play these stocks to help your portfolio get back to even.
At the time of publication, Cramer was long GS. 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. 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. Brokerage Partners
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