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NEW YORK (
) -- Taking a page from his cookbook, Jim Cramer told the viewers of his "Mad Money" TV show Tuesday that the recipe for today's market rally included four primary ingredients: Ben Bernanke, consumer confidence, housing prices, and the retail investor.
Donning a chef's hat and apron, Cramer was baking a cake to celebrate the rally. He said there's a lot to celebrate in the markets, not the least of which is Ben Bernanke.
Cramer said while he was initially a critic of the slow moving Bernanke, Cramer credited him with keeping the ATMs at our local banks full of cash and taking radical actions to stabilize the markets and our country's financial system.
The second point to celebrate was home prices. Cramer said he was chastised in 2007 after predicting home prices would fall significantly. He was further chastised in 2008 when he predicted a home price bottom on June 30, 2009. Yet today came news of the first month-over-month increases in home prices. Cramer said he's not worried about foreclosures or tax credits stifling the recovery in home prices because its simply cheaper to own a home than to rent one and that, he said, is all that matters.
Other reasons to celebrate, said Cramer, include the return of both consumer confidence and the retail investor. Cramer said the little guy is finally starting to put money to work in the markets again, and with consumer confidence on the mend, the rally in the markets can only continue.
Cramer said with all of these positives in the market centered around housing, he remains bullish on the banks, particularly ones that own a lot of homes, including
Bank Of America
JP Morgan Chase
, three stocks which Cramer owns for his charitable trust,
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