Jim Cramer: Q1 Came in Bearish, Goes Out Bullish

The first quarter came in like a bear due to worries about an overly strong dollar, lower oil prices, extended Fed rate hikes and German bank solvency, said TheStreet's Jim Cramer. Nevertheless, Q1 left like a bull when these concerns subsided. Cramer said traders threw in the towel following January's sharp downturn, presuming that 'as January goes, so goes the year'. They were proven wrong by mid-February, however, and he said a weaker dollar should boost multi-nationals and consumer products companies going forward.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.