An in-line GDP number does nothing except make it mark-up time. That's right.
Buzz and Batch are going to let this month sink their ship? Guys like B&B will move their stocks up between now and the end of the month as shamelessly as they know how. They are helped by seasonality (this is a benign-to-positive period) and by thin holiday trading.
In the meantime, the slow numbers keep coming in. May was a bad month for the autos, we are now learning. We are seeing signs of a slowdown in housing prices (see
Money section). In other words, we are fine. Seems OK to let them run a bit, that's our judgment.
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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