Perhaps, more important, it isn't straight up. We were able to make some buys for Action Alerts PLUS today of stocks that were down that later climbed. They let you in -- another sign that it isn't short-covering.
Buying stocks, alas, on Washington worries talked about endlessly in the media hasn't been a sucker's game. Selling them has.
Maybe people are beginning to realize that that's the case. It won't be until huge amounts of money come back in the stock market and people aren't even talking about Washington that the jig might be up.
Until then, try to avoid the high-multiple players that ran big in 2012. Try to isolate the stocks at price-to-earnings ratios of 12 to 15 that could have good international prospects. Keep buying beaten-down master limited partnerships. And get ready for a rocky earnings season that will shake out some newcomers but I think, by and large, will do some damage to the high-multiple players but create some terrific buying opportunities for the others.Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.
Three Reasons Why You Shouldn't Sell Google Posted at 12:51 p.m. EST on Friday, Jan. 4 You want a tough call? What do you do with Google (GOOG)? Here's a company that missed the last quarter. Missed badly. Seemed to have no plan for taking up the slack of a potential slowdown in advertising. Seemed to have no plan to rein in costs. The result? A huge downdraft, a 100-point drop, frightening and devastating to the bulls. Now look at the stock. Here it is creeping back to the levels it stood at before the disappointment, and doing so before we see any numbers that tell us it deserves to retake that ground. So why not sell it? Let me give you three reasons. First, the decision by the Federal Trade Commission to let Google off without as much as a real slap on the wrist, let alone restrictions and break-ups, is monumental. First, those of us who remember the dramatic showdown between the Justice Department and Microsoft (MSFT) in the late 1990s had to be fearful that the FTC would take a look at Google's remarkable market share in search, at 70%, and decide, per se, that it is a monopolist and that it was, like so many other monopolists, abusing its power.