NEW YORK ( TheStreet) -- "This rally is turning bears into house pets," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday.
After a 103-point rally in the Dow Jones Industrial Average, Cramer said that the "parade of horribles" the bears have been counting on have simply evaporated, leaving corporate earnings to take center stage.According to the bears, said Cramer, commercial real estate was on the brink of collapse. Instead, he said new firms are being created every day to buy distressed real estate and help the market recover. The bears also predicted ever falling housing prices, but there too, they were wrong, he said, noting home builder KB Homes (KBH) saying that home prices in California have finally stabilized.
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