NEW YORK ( TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- bears and the current rally;
- biotech stocks to watch; and
- Wall Street analysts' lame recommendations.
Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.
Is the Rally for Real?Posted at 3:40 p.m. EDT on Friday, July 27 Does anyone believe? I don't know many who do. I don't know many people who think Europe can do anything about its problems; they believe that, in the end, Europe will have to crash and burn. I know plenty of people who think, "Fool me once, my fault. Fool me twice, my fault. Fool me three times, my fault -- so I am not going to be fooled again." That means they are underinvested and now they are trying to figure out what they can still be in -- but they feel they have to come in. That's what you are seeing now. > > Bull or Bear? Vote in Our Poll Last weekend I was with a bunch of negative portfolio managers who were thinking they were brilliant because of how much they are short. They were gleeful. I can only wonder what they are thinking now. They have lost so much money coming in after a two-day rally off of relief in Europe that they think they will lose money coming in now, but it's only three days before the end of the month and they can't wait until the last day to do some buying. In other words, this is a classic rally based on everyone being negative, yet it is the end of the month and it sounds like the Germans recognize that things could really implode and they can't dither any more. You can put it like this: Is the rally real? To these bearish fund managers, they can't afford to wait to find out. They will fall too far behind if they don't buy something or at least cover their shorts right now.
Pay Attention to These Biotechs Posted at 11:38 a.m. EDT on Friday, July 27 You have to like the action in a troika of senior biotech stocks -- Gilead (GILD - Get Report), Amgen (AMGN - Get Report) and Celgene (CELG - Get Report) -- because it shows you these forward-looking companies are still trying to grow and aren't just sitting there, facing patent cliffs and hoping to hold on before taking a real beating.