Jim Cramer fills his blog on

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every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

  • some good news for once;
  • the key stock here; and
  • long-lasting aftershocks.

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Good News for Once

Originally published on Tuesday, Oct. 28, at 6:58 a.m. EDT

There's some genuine good news out there. First, the worst-acting groups and countries from yesterday -- the insurers and Hong Kong -- got some good news. The insurers are participating in the federal bailout, something that is needed to protect the value of annuities that are hopelessly underwater; and Hong Kong rallied more than it fell, which seems like total manipulation to me, but who the heck cares if you are a bull.

Second, the

Boeing

(BA) - Get Report

strike might end soon, and just in time for a lot of quarters, something that a

United Technologies

and a

Honeywell

(HON) - Get Report

need to have happen to save their quarters. Those two fine stocks are an easy trade off this news but will presumably open up huge because of the ridiculous futures action.

As per usual, the hedge funds that most need this lift to get in shape won't take it. They can't afford to leave the market because it is their only way to get the performance back that they need so badly to keep some of the money under management.

My take is that the hedge funds, those that need redemption monies, will let it ride, which will then put no damper on the relief rally. Given the precipitous decline at the end of the day, right now we would be (like Hong Kong) rallying back to even, which will cause a whole new round of chatter that we are at last out of the woods. The people who give you this chatter never thought we were

in

the woods.

They are worthless. I believe much of this buying is desperate, a solid attempt to mark things up on the fourth-to-last day of the quarter, a move that should last to

at least

midday tomorrow before giving in to some more body slams later in the week.

At the time of publication, Cramer had no positions in the stocks mentioned.

Apple Remains the Key

Originally published on Wednesday, Oct. 29, at 11:16 a.m. EDT

Apple

(AAPL) - Get Report

truly is the only tell you need. It is irking to everyone else and everything else, but if you are short, Apple must -- simply

must

-- be stopped. It is the perfect security to measure things because it allows so many other stocks to go up if it goes up.

Conversely, it is a nightmare when the stock goes down, because if it can go down, what else can go down?

We are now in a territory where if Apple goes to $110, we have to ask ourselves whether we can go up another 2% or 3% without skipping a beat.

I want to emphasize that Apple may be the

only

play that has a whole cohort that is coming into its own using the product, other than

Google

(GOOG) - Get Report

.

If you go over the fabulous article by David Carr today in

The New York Times

where he talks about the way people read newspapers these days -- online -- you have to recognize that such consumption is going to be across the board. We are going to read content on an Apple, create content on an Apple, listen to and watch content on an Apple, and make calls and access the Internet on Apple.

It is the only generational game in town -- which, again, makes it a fabulous tell and

the stock to break

if the bears want to get back in the game.

At the time of publication, Cramer had no positions in the stocks mentioned.

Fannie, Freddie and Lehman Still Shake Us

Originally published on Thursday, Oct. 30, at 1:20 p.m. EDT

Now that the

Fed

and Treasury are on the case, it is worth considering that the

Fannie

(FNM)

and

Freddie

(FRE)

preferred non-bailout and the

Lehman

disaster have

not

stopped rippling through the system. So much of the TARP program is going to be used to stem the losses that banks and insurers took on the FNM/FRE preferreds and on Lehman. So much.

That's what's going on with

Hartford Financial

(HIG) - Get Report

, one of those companies that had disclosed that it would be hit from these. HIG just reported a monster loss, putting these annuity companies right back on the hot seat. They took an almost billion-dollar accounting charge on the annuities, which would seem to imply that they need more money to make good on their pension obligations.

If I were a bear, I would take this thing down in an uncoordinated bear raid with others to where it needs to be nationalized because it can't raise cash. That's a worthy goal, but I am sure the newfound avoid-another-Lehman bunch at the Fed/Treasury would pull an

AIG

and get it right again. Not good for the common, though.

Like, real bad.

Random musings

:

Cigna's

(CI) - Get Report

situation sounds a little better than HIG's, but this death benefit variable annuity business is killing them, so to speak, and they are betting that 2009 will be much better, which is dicey.

At the time of publication, Cramer had no positions in the stocks mentioned.

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