This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cramer: This Market Can Take a Punch

This column originally appeared on Real Money at 3:25 p.m. ET on March 5.

NEW YORK ( Real Money) -- This market is one tough hombre. It lost not one but two bull themes -- China and Apple (AAPL - Get Report) -- but it still can't be killed. This is 2012 writ large, where people say, "OK, they don't like copper, then let's buy Kellogg (K - Get Report), Prudential (PRU), McDonald's (MCD - Get Report), Kraft (KFT) and everything else that does well in a deflationary world, which is how people are viewing the Chinese lower growth target.

Meanwhile, Apple's decline is scaring the heck out of everyone as shown by the non-stop Twitter commentary about what's going wrong.

Nothing's wrong.

It's just that this chart of Apple is INSANE! Unless you think it is getting a $600 bid tonight -- and, of course, that's untrue -- there is simply no reason why AAPL SHOULDN'T trade down like this. You are not going to get this stock to just go down a couple without others jumping off as fast as they can. That's how you get such a hammering.

I find the Rydex CurrencyShares Euro Currency (FXE) hanging in and the transports off their lows to be very significant if only because those are the two indicators, along with the now pathetic iPath Dow Jones UBS Copper (JJC), that would actually worry me if things were truly teetering. It's just not that bad out -- even though it should be, because the U.S. economy has been knocked back by China, or, so far, by oil.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL, K and PRU.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs