"TAP não sobrevive se se mantiver pública", garante Pinto Luz

[Trisquel]

Ulisses,

O Cramer está a mudar a opinião, mas os problemas não se resolveram?

Ou ficaram adiados e o mercado vai aproveitar a onda?

[Ulisses Pereira]

"Persistent Bidders Got It Right"

By Jim Cramer
RealMoney Columnist
6/21/2010 6:17 AM EDT


"The market knew something all right. That persistent bid underneath that we all knew, we all felt, was dead right. I thought it might be because the euro was holding. Or that the Spanish banks had at last broken the backs of the bears. I thought it might be that employment is getting stronger, or, more likely, has to get stronger, because some firms, like General Motors, aren't doing their usual furloughs. I thought it might be the final finreg rules and how they wouldn't be that onerous.

I didn't think it would come from China because I already checked the Chinese recovery box last week, one of the key props I needed to see before we could leave the 2010 bear behind.

The market's real smart.

In all the press coverage this morning of the yuan revaluation, there are two elements: 1) that this is a really big deal because China is going to keep domestic consumption going while cooling exports and 2) it is not a big deal at all because it is only a 3% float.

To me, the first is all we need to think about right now. We are nearing the end of the quarter and many firms are totally defensive. All last week I wrote about how we were rallying because the double-dippers were putting money to work and those who expect a worldwide resumption of growth were putting money to work. But even bigger than those streams were the streams on the sidelines -- those who wanted out.

Now I expect that money has to come in because the quarter's almost over and these doubters must at least look like they are convinced something good is happening. So they will buy. The defensive buyers might have to switch their buying or just buy more industrials with the cash they have.

Either way, not enough people saw this one coming and even though we are wildly overbought -- more than plus 7 on the oscillator -- the buying now will be panicked, except for by the persistent bidders. They don't need to panic. They got it right. Or to put it another way, the market was simply not as perilous as we thought. "

(in www.realmoney.com)