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TheStreet Open House

Cramer's 'Mad Money' Recap: Complacent Bears (Final)

Stock quotes in this article: MTW, CGC, TROW, EOG, LLNW, MWE, ETP

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NEW YORK ( TheStreet) -- The bears are complacent, not the market, Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

"Investors have their eye wide open," explained Cramer, "and they like what they see." The bears on the other hand are the complacent ones shrugging off the good news.

With so much good news happening, Cramer said its easy to see why investors are getting excited. There are companies like PPG (PPG) which astounded Wall Street with an 18% earnings beat. Then there's the Cephalon (CEPH) takeover and the GSI Commerce (GSIC) acquisition by Ebay (EBAY).

But that's not all. Cramer said the IPO of Qihoo (QIHU), the Chinese equivalent of Twitter, rose a stellar 134%, even more than he predicted last Friday.

On the political front, President Obama is talking about energy independence and using American natural gas. There's also chatter about loosening some of the Dodd-Frank legislation that has been crippling the banks.

And finally, there is Japan, most of which is now gearing up for a major reconstruction, one that will help pick up the economic slack from China, which is still fighting to slow that country's economic engine.

With all of this good news happening, Cramer said its the bears who are ignoring the facts, sticking with the stories of a few weeks ago, rather than the promise of tomorrow. The smart money, however, is on tomorrow.

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