So I go down to buy $5 million in 30-year bonds under 93 a half-hour ago, figuring that if it's so bad and ugly down there, I would get whacked.
Fuggedabout it. I had to fight to get my $5 million. I look at these retail numbers and the employment claims, and the move down in bonds (up in yield) doesn't seem for real. I could get buried off a frightening
speech, but I put
sales with these same-store sales (and I can read a calendar) and it seems like, if the economy were on fire, it may not be right now.
Couple that with the dismal numbers out of Germany, and I want bonds. I caution -- as I trade stocks, I trade bonds. Meaning that I am buying them for a trade, maybe back to 95.
But I am getting sick of all of this strong-getting-stronger economy stuff in light of the numbers that I have seen which are simply strong, or strong getting a tad weaker, and I smell opportunity.
Bonds aren't like the
. Big market. But if there was huge supply at the 92 level, believe me, I would have detected it.
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 the stocks mentioned, although holdings 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