This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stock Under $10 that he thinks could potentially double or triple in the next 6 to 12-months. See what he's trading today with a 14-day FREE pass.

The Grim Fairy Tale; Don't Sweat the Catcalls: Jim Cramer's Best Blogs

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:

  • when good things happen in the market when they aren't supposed to, and
  • what to do when you want to buy stocks for the long term.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.


The Grim Fairy Tale

Posted at 3:45 p.m. EST on Wednesday, Jan. 15

Sometimes markets go up because a lot of negatives that were supposed to happen failed to materialize. I think that's what's behind many of the movements in today's session.

Let's start with the banks. Here's a group, part of the largest sector in the S&P 500, the financials, that isn't supposed to go up. First, the banks, almost every single quarter for several years, go down not up when they report. They always seem to have some number, some statistic, some statement, some government investigation that just hammers the heck out of them, and we resent that we owned them into the reports.


[Read:
J.P. Morgan Confab Focus Reminds Us Upside Remains in Biotech]

Last week, for example, I featured Bank of America (BAC) as a potential breakout, using the always terrific work by technician extraordinaire Tim Collins. Do you know what heat I took for that? Do you know how many people were skeptical about this one? We have done a ton of "Off the Charts" segments for "Mad Money," I have a whole chapter devoted to them in Get Rich Carefully, and I have never had an outpouring of sentiment against a positive chart before.

With all of the talk of Fed tapering and how that would be terrible for the financials and with all of the chatter of the weakness of the mortgage and refinance markets, it was natural to think that this was going to be a year when the banks, already laggards and dullards, would get hammered when they announced their earnings.

Wrong! Today Bank of America recorded a legitimate upside surprise. That's right, a bank substantially beat the estimates -- and not in a one-time way. In fact, I could go as far as to say it was a blowout, with an amazing growth in deposits, terrific investment banking and simply incredible net interest margins, the difference between what they pay you for your deposits and what they can do with the money.


[Read:
Sometimes Leasing a Stock Is Better Than Buying]

It didn't matter that the mortgage market has been declining at what would otherwise be an alarming pace because that business is way overblown as a profit center. Mortgages are, alas, a commodity. It didn't matter much at all that there was still a big $2 billion litigation hit.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
DOW 16,677.39 +216.07 1.31%
S&P 500 1,950.30 +23.19 1.20%
NASDAQ 4,448.4560 +65.6090 1.50%

Our Tweets

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs