Eric Bolling
To my mind, things not as bad as everyone seems to think.
Alcoa(AA Quote - Cramer on AA - Stock Picks) and General Electric(GE Quote - Cramer on GE - Stock Picks) beat analysts' estimates. And Intel(INTC Quote - Cramer on INTC - Stock Picks), Altera(ALTR Quote - Cramer on ALTR - Stock Picks) and Wells Fargo(WFC Quote - Cramer on WFC - Stock Picks) have posted solid quarterly performances. Plus, crude oil dropped $6.49 on Tuesday and is down more than $1 on Wednesday. No industrial production numbers were expected to rise for the first time in more than three months. Citigroup(C Quote - Cramer on C - Stock Picks) reports results on Friday. The stock has been crushed, closing at $14.50 after hitting $56 a little more than a year ago. Analysts around the Street are certainly going to shoot low; after all, any analyst who has been around for a while is surely not going to go out on a limb with overly optimistic Citi numbers. So what am I missing? How does the Street continue to put such a beating on the market? It's the trend, stupid! It took almost five hours and 15 innings for the American League to win another All-Star Game. That is a trend. Oil has been up for three years, up more than 300% -- that is a trend. Fannie Mae(FNM Quote - Cramer on FNM - Stock Picks) and Freddie Mac (FRE Quote - Cramer on FRE - Stock Picks) are off almost 90% -- that is a trend. And the stock market is being beaten senseless as trend traders beat up stocks in the financials as if all were bad. But it's not all bad. Shares are trending lower, but some should be bought, not sold at these bargain prices. Wells Fargo's numbers were good enough for it to raise its dividend.
Featured Photo Galleries
Sign up for our FREE newsletters now.
See All
Sponsored by:
RSS
