172 Reasons to Be Bullish Right Now

Updated from July 23, 10:33 a.m. EDT

I don't care about subprime or oil. Either oil will eventually go below $100, or we'll figure out how to deal with higher-priced oil. And of the $11 trillion in mortgages out there, maybe 3% is at risk. Within the next 30 years, 50 million more people will be living in the U.S. They all need a place to live. House prices will go up again, and again, and again.

Whenever the market goes down for a sustained period, like the period we just experienced, everyone assumes that "the trend is down" and that "the market will go down forever". Howard Ruff, who wrote How to Prosper During the Coming Bad Years in 1980, right before the biggest bull market ever, just came out with How to Prosper During the Coming Bad Years in the 21st Century.

Nothing ever changes, and the bears are never right for long.

So before you wake up in the middle of the night in a cold sweat, after nightmares of pushing apple carts in the middle of Times Square or the Midwest dustbowl, consider that there are many reasons to be optimistic. And there are many, many stocks out there that are simply dirt cheap (depending on how you define "dirt") and many stocks that are worth buying.

Some of the stocks mentioned in the following portfolios include Bank of America(BAC - Cramer's Take - Stockpickr), Target(TGT - Cramer's Take - Stockpickr), Procter & Gamble(PG - Cramer's Take - Stockpickr) and Harley Davidson(HOG - Cramer's Take - Stockpickr).

For the rest of the story, and to find out all 172 reasons you should be bullish right now, please click here.

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A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

• Stocks related to drilling the Marcellus Shale

• MLPS with yields above 7%

• Microcaps trading for less than tangible book

• Stocks that do well after Hurricanes

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.