I parsed through Hewlett-Packard's (HPQ) numbers over the weekend and, dare I say, this company is back, and it's starting to really turn. The stock is very inexpensive, and the forthcoming year-over-year comparisons will be easy. I can't wait until this company invents the ultimate 2-D printer -- it has the technology in its Israeli division -- so we don't have to hear about Voxeljet (VJET) anymore. You can say it was all made with headcount cuts. I could come back and say that HP CEO Meg Whitman had to cut heads before the company could grow. That's how all successful turnarounds are done, and she's just finishing stage one.
There were no flies on Tiffany (TIF) or Workday (WDAY) last week, either. When the worst quarter you get is from Cracker Barrel Old Country Store (CBRL), whose shares were already up 70% going into the quarter, you can't really reach a lot of negative conclusions about the market, even as I see people contort themselves into doing so pretty much on an hourly basis.
So let's see what this extended market brings in this new month. To me it will bring price breaks that will be quickly met by buying. That's simply because we only have five more shopping weeks until those who subscribe to the Gloom and Doom but not the Boom start getting their assets stripped away, as surely as a mine are stripped on pretty much a daily basis.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in stocks mentioned.
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 + 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