Cramer's 'Mad Money' Recap: A Rally Based on Facts
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NEW YORK ( TheStreet) -- Is the market's recent surge higher based solely on hope? Jim Cramer told his "Mad Money" TV show viewers Monday that he's not buying that explanation. Cramer said this rally is based on facts, which is why he no longer fears the future.
Make no mistake, there are plenty of sectors that are relying on hope, said Cramer, but they're easy to distinguish from the good ones.Obviously, the international banks are trading on hope, he said, hope that the Europeans will finally save their economies. That's why Cramer said he's not a fan of these banks, other than J.P. Morgan Chase (JPM), a stock he owns for his charitable trust,
Breaking Up Is Great to DoIn the real world, breaking up is a miserable experience, but in the stock world, it's a glorious occasion, Cramer reminded viewers, as he featured oil and gas giant Hess (HES) to show just what could happen if this company decided to spin off some of its assets to unlock value.
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