If it weren't for weakness in Europe, Latin America, Southeast Asia and Japan, as well as sluggishness in Mexico and Canada, coupled with outright depression in Russia, we would probably have to tighten.
That's pretty much the way I read
. He would love to take back that third ease, but the United States is literally the only engine working on this four-propeller plane of a world economy, and even though the engine is hot, it may not be worth shutting down!
Meanwhile, people are talking about how disappointing the market is today. Oh, I got it. Why can't those plus 200 point days be followed by plus 300 point days! What's with this doggone market? Why can't it double every few hours like an amoeba! Why can't it break out to new highs every day? Where are all the new entrants to the new high list? What's got into it? What ailment has decked this market? Chronic fatigue?
Again, in my 20 years of trading, you can count on two hands the number of times giant moves were followed the next day by -- you guessed it -- giant moves. In the meantime the market has rallied 8800 Dow points.
Not too shabby. If you are disappointed in this action, may I suggest that the rest of your life must be downright perfect? And I envy you.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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 by sending an email to firstname.lastname@example.org.