How about we challenged the all-time highs? How about we flirted all week with taking them out? How about a rally that has us up double digits?
You see, this is what is truly amazing about this market. If you didn't know any better you would think that we would be down hugely from those. But there are just too many other smaller companies that are taking up the slack.
I think this is amazing. The biggest, the most important, the most visible companies have done poorly, and yet the market hasn't skipped a beat.
Which explains the absurdity if why it is such a hated market, even as it keeps knocking on the door of the all-time-highs list.Now, to me, there's only one way to look at this. If this market can go higher without these companies, what happens if they don't disappoint? Hmm, maybe that's what the market's trying today because if you shorted it on the basis of any or all of these huge companies quarters, you are losing, not making, any money. And that's all that matters in the end. At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long long AAPL, IBM, GE, UTX, JPM and GS.
What's Truly Amazing About this Market Posted at 12:55 p.m. EDT on Friday, April 26 Oh boy, I know I was looking forward to putting out the all-clear sign to buy Avon (AVP) next week, now that it has a new CEO, Sheri McCoy, late of Johnson & Johnson (JNJ). I figured that next week might be the clean-up quarter and it was time to get long. But today Fred Hassan resigned as nonexecutive chairman, and while I totally understand that he has other commitments, as he outlines, I think that next week will be one tough week for both Avon and, yes, Herbalife (HLF), which also reports its earnings. I used to despise Avon under Andrea Jung. She was a total Wall-of-Shamer. But McCoy is the real McCoy, who was fabulous at JNJ. I also like Michael Johnson from Herbalife, but have had to back away from that one because my pal, Herb Greenberg, has red-flagged it and I never go against his red flags. Plus, the main reason to have been in that stock is the redeployment of its cash flow to buy back shares or pay big dividends, and now that it has no auditor it can't do either. All in all, two that you want to avoid. If you must, go for the direct seller that's got no issues. Tupperware's (TUP) not trying to sell product to others who sell it, like HLF, and it has had no brushes with the authorities, like Avon. It did go down on that last quarter, but I think, after speaking with CEO Rick Goings, it is the one to buy and I have to apologize to him for putting his terrific company in the same blog entry as the others. At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in the stocks mentioned.
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