Jim Cramer's Best Blogs
04/26/08 - 10:14 AM EDT
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Jim Cramer
JPMorgan (JPM Quote - Cramer on JPM - Stock Picks) pantsed the Fed. How bad can that be, going forward?
People think that Citigroup (C Quote - Cramer on C - Stock Picks) and GM (GM Quote - Cramer on GM - Stock Picks) could be the value dogs of the Dow. I don't, but so what. There's enough money that does. Bank of America's (BAC Quote - Cramer on BAC - Stock Picks) value, too. Alcoa (AA Quote - Cramer on AA - Stock Picks) could get a bid. GE (GE Quote - Cramer on GE - Stock Picks)? I own it, can't comment here. So, we have 3M (MMM Quote - Cramer on MMM - Stock Picks), which was a tad disappointing. Same with Microsoft (MSFT Quote - Cramer on MSFT - Stock Picks). Hewlett-Packard (HPQ Quote - Cramer on HPQ - Stock Picks) will be better because of the weak dollar. And Intel (INTC Quote - Cramer on INTC - Stock Picks) is dirt-cheap if AMD (AMD Quote - Cramer on AMD - Stock Picks) keeps up its losing ways. Disney (DIS Quote - Cramer on DIS - Stock Picks), too, although this one's a real question market. And I hate AIG (AIG Quote - Cramer on AIG - Stock Picks), but so does everybody else ... maybe it doesn't matter. Yep, there's just not enough credit here to reflect the credit crunch. There's not enough food inflation here to hurt the Dow. There's pressure on the financials, but they have financed themselves for at least another year. It's just not the kind of index that can make you bearish, when you pull it apart. In fact, it makes you downright bullish, perhaps the only emotion that needs to be checked at the door. Random musings: Helene's overbought analysis is a must-read. ... I am getting a kick out of Doug's "don't blame the short-sellers" stuff. At the time of publication, Cramer held Verizon and McDonald's. Jim Cramer is a featured commentator for CNBC, which is owned by General Electric; as part of his contract, Cramer holds restricted shares in GE.Hope Springs Eternal When You Have No Memory
Originally published on Thursday, April 24, at 3:30 p.m. It's incredibly frustrating to be a short-seller, because the market has no memory. The stocks that on a percentage basis are up the most in the financial world are the ones that are the biggest losers in a Gang of Four collapse: Citigroup (C Quote - Cramer on C - Stock Picks), Fannie (FNM Quote - Cramer on FNM - Stock Picks) and Freddie (FRE Quote - Cramer on FRE - Stock Picks), and Merrill (MER Quote - Cramer on MER - Stock Picks). These have the most to lose if Ambac (ABK Quote - Cramer on ABK - Stock Picks) or MBIA (MBI Quote - Cramer on MBI - Stock Picks) or PMI (PMI Quote - Cramer on PMI - Stock Picks) or MGIC (MTG Quote - Cramer on MTG - Stock Picks) go under. Yesterday's decline was the real deal, or so we thought. The credit losses if the Gang of Four goes under will overwhelm all the happy talk from Merrill or the ability to keep FNM/FRE's equity from disappearing. No matter; these stocks are going up on the strong dollar -- totally ephemeral -- and the moronic notion that Merrill's all fat and happy now that the dividend is declared. Why not? They just raised billions in capital. How could it not be? Now let me say, I think that a long Goldman (GS Quote - Cramer on GS - Stock Picks) short Merrill trade makes sense. I don't think that Merrill has that much earnings power. It won't go out of business, but it might not make a lot of money. I say Lehman (LEH Quote - Cramer on LEH - Stock Picks) and Morgan (MS Quote - Cramer on MS - Stock Picks) are in similar boats, but I think that Merrill just can't make big numbers, period. This is a total "hope springs eternal" day. Pulte's (PHM Quote - Cramer on PHM - Stock Picks) up, the worst is over. Homebuilders rock! They survived the HGX channel bottom. AIG (AIG Quote - Cramer on AIG - Stock Picks)is up -- was it never bad? So what if ABK isn't going to make good, AIG won't need it!! That's how it trades. Oh, and how about this one: Goldman's up huge and the chart is now great!! I actually agree with that one. (In case you don't think that a lot of this (but not all) is a short squeeze, ask yourself -- who buys Goldman Sachs up 9 when there is no news?) If the bottom is in, then JPMorgan (JPM Quote - Cramer on JPM - Stock Picks) was brilliant. Today we believe that there are saviors everywhere and that the saviors are winning, a la Washington Mutual (WM Quote - Cramer on WM - Stock Picks), where everybody who put money in is money good! Makes you want to go buy Sovereign (SOV Quote - Cramer on SOV - Stock Picks)! We even like MGIC! If you are a bear, you are thinking, "Wait, did the market forget what happened with ABK yesterday?" The answer, crazily, is a resounding "Yes!" Random musings: Retail gets a huge move out of drop in employment claims. I am a seller into any strength of this group. But the "hope springs eternal" crowd loves spring, warm weather, Mother's Day, jobless claims and $600 rebates. ... Still too early to buy ag, let 'em come in. ITT Educational Services (ESI Quote - Cramer on ESI - Stock Picks) shows you that when you deliver numbers in a bad cohort, there are a lot of shorts panicking. ... How about that MasterCard (MA Quote - Cramer on MA - Stock Picks) and Visa (V Quote - Cramer on V - Stock Picks) as ways to play, well, anything! They are totally loved endlessly. ... Phillips-Van Heusen's (PVH Quote - Cramer on PVH - Stock Picks) stock says -- at least to me -- go back to VF Corp. (VFC Quote - Cramer on VFC - Stock Picks), which did hit the number. ... Apple (AAPL Quote - Cramer on AAPL - Stock Picks)? Not done. ... Salesforce.com (CRM Quote - Cramer on CRM - Stock Picks) is overwhelming the shorts. At the time of publication, Cramer was long Goldman Sachs. |
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