Meo tem a porta aberta a saídas voluntárias até ao final do mês

[lsilva4]

Não é que o que diz esteja desprovido que qualquer sentido, mas na minha perspectiva, os pressupostos deste paradigma carecem de uma melhor fundamentação e alguma objectividade...

Desconhecia o senhor, mas numa rápida pesquisa fiquei logo com uma impressão mais clara.
"...Jim Cramer believes that there is always a bull market somewhere..."

Cumps

[Ulisses Pereira]

Ele está bullish há bastante tempo e assim continua.

Um abraço,
Ulisses

[habanero04]

É impressão minha ou o homem diz que vem aí um valente boi?!...

[Ulisses Pereira]

"The Big Disconnect"

By Jim Cramer
RealMoney Columnist
2/18/2011 9:54 AM EST

"The fundamental disconnect for me is a simple one: How can stocks keep going up in the face of such awful news? Today's news? Chinese rate hike. We all know that China is the engine of the world's growth, and we know that its economy can't grow as fast and devour as many products, particularly heavy machinery that is really only needed in China, if the Chinese central bank keeps raising rates.

Yesterday's news, stubborn unemployment rate, something that shouldn't necessarily be offset by a Philly Fed report, given that Philly is primarily a "meds and eds" economy (medicine and education), should have been viewed as heavily negative.

The argument that Doug Kass propounds this morning, that corporate profits have peaked, is in the air every minute. Indeed, if you look at a Campbell Soup (CPB - commentary - Trade Now) today, or Clorox (CLX - commentary - Trade Now) and Kraft (KFT - commentary - Trade Now) the other day, you know that there are companies that are simply being crushed here.

Meanwhile, the press keeps up the drumbeat that housing prices keep falling. And does anyone think that rates haven't bottomed and that higher, maybe much higher, rates are coming, in part because of demands by the U.S. government to borrow more and more money?

I think that the biggest issue today in the stock market, not the economy, is, how can that paradox exist? How can stocks keep going up? How much of it can really be just a short squeeze, which is the only "logical" explanation for how a market can soar in the face of an endless parade of negatives?

Mind you, I am not saying the market is climbing a wall of worry. It is climbing a wall of reality that is not good.

So I think it is incumbent upon all of us to fathom why this is. Let me give you my reasons, some of which are meant to counter Doug's thoughtful writings on corporate margins.


First, the U.S. is getting better and stronger, and that's more important to the stock market than China is. The companies that truly benefit from the Chinese economy can be counted on about four hands. It's almost all about the urbanification of China, and we know that that means more power, more raw materials and more infrastructure. If the U.S. comes alive, that's finance and retail and technology. When you put all of those together with the Chinese demands, ones that might not be slowed that much by rate hikes, you get a reason to own.

Two: The negativity of the analyst community is pretty breathtaking. It is like they all got religion after the research scandals and feel compelled to rein in enthusiasm and to endlessly downgrade stocks, particularly high-growth stocks.

Three: "Money in" changes everything. When you get money in that goes to growth managers because they are outperforming, they can make the Chipotles (CMG - commentary - Trade Now) and the Netflixes (NFLX - commentary - Trade Now) and the Deckers (DECK - commentary - Trade Now) seemingly endless winners, irrespective of the worries.

Fourth: Some companies are able to raise price more than the material expenses and commodity prices. These companies are winners. Period. There are enough of them to go around. I write and talk about them endlessly. My charitable trust, managed with Stephanie Link, is chock full of them. And that corporate margin expansion has been demonstrated throughout this period and continues to improve.

Finally, we don't care about rates moving up slowly but surely. We care about improvement in business. Stock markets go up in that scenario. Retail and banking margins expand dramatically, and those areas can drive the stock market.

Just some reasons -- more later -- why the market doesn't want to quit. "

(in www.realmoney.com)