Sometimes it's as simple as a tote board, like the one at the racetrack. Let's see: The line, the
morning futures, is signaling down, but not as down as when I got in three hours ago.
Abby Joseph Cohen
comes out strongly for the bull at
, saying things are very much on track despite Kosovo, tech, etc. Will
pick it up and run with it? Or will it be a squawk falling in the Goldman woods?
It should nudge the line positive.
reiterates strength of the Net and a couple of Burlingtons get upgraded -- the gas
at Merrill and the pants
, bullish again.
But Europe looks terrible, and this
thing has become one giant morass. More new appointments for these Euro agencies, got to assess that, which is negative any time you have to assess anything. Japan's
-- is that falling apart? Take the line back down fast.
"Squawk" co-host; he's a delightful and thoughtful bull. Likes cable.
is the host; he's more skeptical than a bull wants in that seat.
is blowing up -- for the billionth time. Lots of premarket red on the screen, and now a
. Notch the line down again.
Bonds are looking up. Yet we know that the market has lost momentum, and if anything, the strength looks like a setup.
So far this morning, it's still a push. You can't put a lot of money out if the payback is minuscule. That said, I have been a buyer of discounted merchandise all morning because I think the Abby call controls, not the initial Bartiromo take, which has taken on all sorts of significance,
right or wrong
. And those durable goods don't hurt the bonds. Who knows? Will the futures turn positive? I think yes.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Burlington Resources and Merrill Lynch, although positions can 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 email@example.com.