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NEW YORK (
) -- "I've never seen leaders do so much damage in the name of doing good," Jim Cramer told his
TV show viewers on Tuesday, as he opined on the daily battle between the reckless politicians, both here and abroad, vs. the strong fundamentals of U.S. companies.
Cramer said frankly that's it painful to watch our fledgling recovery being slowly derailed by politicians who can't seem to do anything right. He said that in Europe, the Germans who once said they would play ball with debt restructuring if countries like Greece and Spain elected new governments, now seem entrenched in a "no-bailout" mode.
Meanwhile here at home, Cramer said the deficit-reduction Super Committee lost an amazing chance to do something good for our economy and instead chose to maintain the status quo of bickering and partisanship.
Yet despite all of the politics rhetoric, Cramer said that U.S. companies, at least for now, continue to improve. He said that commerce is picking up, retail sales seem strong and even hiring and non-residential construction may be on the mend.
Cramer noted that
had positive comments on its earnings call, as did
Chipotle Mexican Grill
, but it simply won't matter on a day that's overshadowed by political news.
Cramer said he can only imagine how strong the U.S. economy could be with a shift in policy favoring natural gas over solar power, or with certainty on taxes or the unemployment benefits that so many have come to depend on. He said that the politicians have the opportunity to help, but have chosen otherwise. Cramer called the situation a "terrible moment" when our leaders keep betraying us.
Off the Charts
With so many tech stocks struggling with concerns over weakness in Europe and flooding in Thailand, Cramer went head to head with colleague Caroline Boroden over the chart of
, a stock that's down just five points from its 52-week high.
According to Boroden, who studies Fibonacci ratios, Qualcomm has displayed a pattern of two declines each last 14 weeks in 2006 and again in 2008, and two declines lasting 25 weeks in 2010 and again this year in 2011. Using the predictive nature of Fibonacci analysis, Boroden expects shares of Qualcomm to rise 17% from current levels.
Cramer explained that the retracements that Fibonacci analysis studies helps traders determine where a floor of resistance is being built so they know when to jump in. Boroden took the analysis one step further however, and determined that watching for the 8-day moving average to cross over the 34-day moving average will provide a further trigger for when to buy the stock.
Cramer said he found Boroden's analysis intriguing, but with the markets still being controlled by Europe, he would start a small position now and buy even more on the next big down day that's caused by euro news.
--Written by Scott Rutt in Washington, D.C.
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At the time of publication, Cramer was not long any stock mentioned.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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