On days like today, we look for downgrades to put money to work. We look for bad neutral calls. We look for things that are down because someone has been working an order to sell stock and doesn't know the world changed.
Oh yeah, the world did change. You can buy cyclicals, retailers and banks for a trade because this jobs number lessens dramatically the chances for a whole bunch of hikes. This number changes things. Those who were bearish on the economy because of fears of massive rate hikes will now be forced to come in and buy. They will buy these down-and-outers.
Yes, it is just a trade. But it might be a trade for a week or two because there are no other important numbers out there.
Bears in a two-week steel trap with rusty prongs and tetanus setting in! Bring your camera!
I am deluged with thank-yous from readers who read my
prediction of a reversal day that would mean you had to be long for this opening. I greatly appreciate it, but I ask only one thing, give gifts of
to friends. Act now and you will get
, which is my real online diary -- in real time -- for half the price of when we start it up. How can you say no to that?
That call was big; don't tell me thanks. Show me thanks. And bury our detractors to boot! Did
give you that call? Oh yeah, unlike us, that's not their job. I forgot.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at