Jim Cramer's Best Blogs

Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

• the rubber-band market,
• Bank of America as fulcrum, and
• skittish holders.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.

---

The Rubber-Band Market
Posted at 2:43 p.m. EDT, May 18, 2009

The resilience of this market is overwhelming at times. Last week all we heard was that all the secondaries were overwhelming the market.

Today the banking sector -- the most hard-hit by the secondaries -- is on fire, confirming that the supply doesn't damage the story if the story's a good one.

Or how about the natural gas stocks? These have more lives than your average cat. Here we go again with the rally in Devon (DVN) -- what a bounce back -- and the fantastic comeback in Schlumberger (SLB) and Transocean (RIG). Keep an eye on Anadarko (APC), still weighed down by the secondary but clearly a coiled spring ready to happen.

Then there is Wal-Mart (WMT). People sold it on the revenues, but it is right back to where it was sold and is ready to roll again.

Last week Apple (AAPL) was hammered for whatever reason, and now it is bouncing back -- as is Google (GOOG), which I think is way too cheap vis-a-vis the quarter.

And then there is the housing cohort: Black & Decker (BDK), Home Depot (HD) and Sherwin Williams (SHW). I know that Lowe's (LOW) said that it didn't have good indoor sales -- plumbing and cabinets -- but can that be so far behind that it wouldn't be worth buying a little Masco (MAS) and Fortune Brands (FO)?

I also see the restaurant group ramping again, with Yum! (YUM) catching a bid. You know that Panera's (PNRA) my favorite there.

Lots to like. Lots to buy. And just when everyone had given up on this market because of a belief that we had gone up too far too fast.

Conventional wisdom fools people again.

At the time of publication, Cramer was long Home Depot, Yum! Brands and Wal-Mart.