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:
- bad-news banks and
- the oil stock price crash
Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.
Bad-News Banks Breaking Training
Posted at 11:07 a.m. EDT on Friday, Nov. 15It's been a long time since the banks have been able to shake off bad news and go higher. Today's one of those days. They got these ridiculous Moody's downgrades and, at last, they meant nothing. You have the Attorney General of the United States talking about coming down on the currency manipulators, which could lead to all new investigations of money centers -- will they ever cease? -- and they meant nothing. These stocks are all trading higher, in part, I think, because we are going to get a little inflection in the yield curve and in part because they are just too cheap relative to other stocks. It's very in vogue to talk about bubbles, but is it a bubble to mention that Bank of America (BAC - Get Report) isn't back to where it was in May 2010? Isn't that a little nuts? How about Citigroup (C - Get Report) unable to take out its 2009 top? (WFC - Get Report), for Action Alerts PLUS and would buy more JPMorgan Chase (JPM - Get Report), if it would come down. Meanwhile, there is some research on KeyCorp (KEY - Get Report), raising the price target to $15. Seems like a reasonable stretch given the turn we are seeing in bad loans, in the yield curve and the return of growth in the Midwest. Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long JPM, WFC and KEY.
Oil Stocks Getting Killed Posted at 2:40 p.m. EDT on Tuesday, Nov. 12 Can the decline in oil kill the American oil renaissance? In a word, no. It will just kill the stocks. The market is a little asymmetrical right now. The winners from the lower oil price, which include not just the disposable-income plays but also the consumer packaged-goods companies, aren't really getting much of a lift. But the losers, the oil companies, have been clobbered. Take the stock of EOG (EOG - Get Report), which is perhaps the best pure domestic oil play. (I like Noble (NBL - Get Report) more, but that's in part because of a gigantic field off the coast of Israel.) EOG is a company that's coining money in the Eagle Ford, both with its west and its eastern holdings, and has just reinvigorated its Bakken holdings with new techniques to bring out oil. It's about to turn the technology loose on the Permian, where its Delaware basin could be another home run.
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