On June 2, Jim Cramer published a checklist of criteria for stocks to rise in a sustainable way. In this post, which appeared on his RealMoney blog earlier today, Cramer checks a second item off the list.My
Remember the list: Spanish bank stabilization, euro stabilization, Chinese soft landing, passage of financial regulation, unemployment coming down, and the end of the oil spill. If STD's that safe, frankly implying that Banco Bilbao ( BBVA) is safe too -- and that bank isn't too big to fail and can be merged -- that's a huge check mark. I think the banker sounded darned convincing in his statements. Hmm,
China's soft landing is upon us. STD stabilizing? Fin reg around the corner and not that onerous because, despite what the papers say, Blanche Lincoln isn't powerful enough to break up the banks. That leaves the euro stabilizing -- I don't know if we have that yet and would feel better the longer it stays at 1.20 against the dollar; the spill -- nothing good there; and unemployment, which is a wait-and-see game. But the progress is marked. Right now the odds favor the bulls. Random musings: Johnson & Johnson ( JNJ - Get Report) seen as uncooperative with the FDA. Buy Perrigo ( PRGO - Get Report) -- the winner! At the time of publication, Cramer had no positions in the stocks mentioned.