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NEW YORK (
) -- "Now that we've pierced Dow 10,000, look for a whole new set of excuses from the bears," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.
And just like the current set of excuses, these too will be surmounted and disproven, he continued.
Jim Cramer's signing events near New York continue for his newest book,
Getting Back to Even.
Cramer Book Signings Near New York
Wednesday, Oct. 14, 7 p.m.: Borders, Bridgewater, NJ (290 Commons Way)
Tuesday, Oct. 20, 7 p.m.: Mendham Books, Mendham, NJ (84 East Main St.)
Tuesday, Nov. 17, 7 p.m.: Barnes & Noble, Manhattan (33 East 17th St.)
"Don't blame the bears," said Cramer, this is what they do. Bears make up any excuse they can think of to scare investors out of the market, he said. Whether it be oil prices, or gold prices, or jobless claims, or lagging retail sales, the bears will ALWAYS have a reason why you should sell, said Cramer.
And when the macro tactics don't work, the bears target individual stocks, said Cramer. The bears were all over the earnings calls of
Johnson & Johnson
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS
, with all sorts of reasons why the valuations are too high.
Today's target was
. Cramer said despite the pundits attacking Intel's earnings, the chipmaker has the wind at its back, with falling costs, rising sales, and new product cycles fueled by tiny netbooks and
new Windows 7. He said he's sticking by his $25 price target for Intel and would use any weakness in the stock to "pile in."
Cramer said don't be fooled by the bears, the markets are headed higher, no matter what the bears might say.