That's why things seem so sanguine. They really aren't! If we actually do get the House to agree with the Senate -- I see no reason why that should happen until after the deadline -- then maybe we will have such a tidal wave of buying that it will leave no stock behind, until, at least, we start talking taper again.
So, I believe after the furious runs of October 2011 and January 2013 (fiscal cliff) many participants are willing to risk what I think could be a 1,000-point Dow decline if nothing's done this week, if only because come next week, there will be a resolution. If it is before then, many stocks that report good quarters will be off to the races and stocks such as Wells Fargo (WFC), which reported a not-so-hot quarter, won't get hit as badly as they should otherwise.
Random Musings: The hiring of Burberry CEO Angela Ahrendts is very important for Apple (AAPL) because she is very pro-customer-relations management and is a huge backer of Salesforce.com's (CRM) methods of staying close to retail customers.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long WFC and AAPL.Editor's Note: This article was originally published at 7:30 a.m. EDT on Real Money on Oct. 15.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV