In the rush to judge President Obama's first 100 days in office, Jim Cramer told the viewers of his "Mad Money" TV show that there's only one way to really make the call, and that's to look at stocks.
Results That Matter"Never judge a stock based on what you read in the newspaper," Cramer told viewers. Newspapers are not written for investors and usually paint a misleading picture of companies, he said. Case in point, this weekend's New York Times article on Hewlett-Packard ( HPQ), a stock which Cramer owns for his charitable trust,
On the ReboundCramer said there's one dog of a business that's starting to turn around, and that's the oil tanker business. After day rates for tankers hit 7- to 10-year lows, earlier this year, the tanker business is starting to rebound, taking its two largest players along with it.
Outrage of the DayCramer fired another shot across the bow of the ultra-short ETF market and ProShares, the company that operates many of them. In a recent filing, ProShares asked the SEC for permission to create a new class of triple-weighted short funds that Cramer says need to be stopped. Cramer again begged SEC chair Mary Shapiro to put a stop to all ultra-short funds, which he claims have no value to regular investors. Cramer said there's no place for these funds in today's markets, as they only allow day traders to evade margin rules and bang down entire sectors of stocks undeservingly. According to Cramer, the ultra-short funds have cost taxpayers hundreds of billions of dollars in bailout funds to prop up what would otherwise be crippled, but not failed, financial entities. "These funds make a mockery of the rules and need to be banned," he said.