NEW YORK (TheStreet) -- "If you wanted a statement that suggests that the stock market should go higher, you just got it," said Jim Cramer on Wednesday's "Stop Trading!" segment on CNBC, referring to the Federal Reserve's just-released statement following its two-day policy-making meeting.
But what's really important today, said Cramer, is that oil is down while the market is up. "Maybe we're breaking away from the silly linkage which says that unless we see some sign that the economy's strong, via oil or baltic freight, we go down," he said. "That's not happening, and it's very positive."
Turning to earnings, Cramer said that especially after
earnings report yesterday, "a lot of people doubted that
could generate such an upside surprise that it would matter." The company did, though, and Cramer said the company's gone "from being a consistent grower to being an actually better-than-consistent grower."
Research In Motion
reports tomorrow, but Cramer said it doesn't matter. "I don't care what RIM reports tomorrow," he said. "If you're trying to play this for the quarter, you're making a big mistake."
He said the reason to consider playing RIM is because of the Internet tsunami, which he said "is so strong it's lifting all boats, whether it be the BlackBerry or the
Pre." He urged viewers to "stop thinking so short-term about the Internet tsunami. It's big enough to take up
As for his comment yesterday on
regarding talk of
doing a secondary offering, Cramer said he's been getting a lot of responses about how that wouldn't be allowed to happen. "This is a company that has a lot of assets that we don't even know about that they're trying to sell," he said. "If you raise that quick bit of money, at least it makes the next layer of sales go better."
-- Written by Rebecca Corvino in New York.
(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer had no positions in stocks mentioned for his Action Alerts PLUS charitable trust.)