On the fly.
Those three words define today because I don't know if I have ever seen a day that is more on the fly. Of course it has to come on the day of our Action Alerts PLUS club call -- which is a must!
We've got the banks flying because JPMorgan Chase (JPM) - Get Report delivered a $9 billion quarter. That's extraordinary in great times but here we had a government shutdown, almost no IPOs and mergers, and they deliver that shocker?
What can they do in good times?
Now the money is flowing to Concho Resources (CXO) - Get Report , Cimarex Energy (XEC) - Get Report , Noble Energy (NBL) - Get Report , Pioneer Natural Resources (PXD) - Get Report and Apache Corp. (APA) - Get Report . This is tough because I think these are proud companies that don't want to sell.
But Occidental Petroleum (OXY) - Get Report and Exxon Mobil (XOM) - Get Report are both on the prowl and I think that they are going to make a move sooner rather than latter and today's gains will not dissuade them.
Finally Disney (DIS) - Get Report : You know what Bob Iger did today? He made it so Disney is the new Netflix (NFLX) - Get Report , the company with huge growth that will only get better and better except Disney has a great balance sheet and earnings... and Netflix?
How about it doesn't have the earnings or the balance sheet to compete.
Of course it doesn't need to. The more the merrier will be Reed Hastings' watch word.
He's right. As always.
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Action Alerts PLUS, which Cramer manages as a charitable trust, is long JPM, APC, DIS.