Cramer: "Too Much Good to Be Negative"
Enviado: 6/1/2010 15:10"Too Much Good to Be Negative"
By Jim Cramer
RealMoney Columnist
1/6/2010 7:28 AM EST
"With the S&P oscillator at plus-7, I really want to be negative. With so many stocks breaking out, I want to be cautious, and yes, proactive, especially when a big unemployment report looms.
But then I see Ford (F - commentary - Trade Now) and I think, "Do you really believe that stock is going to be at $9 again?" Or I see Bank of America (BAC - commentary - Trade Now) and I wonder, "Has that stock not shown that the supply has been digested?" Or I see Goldman Sachs (GS - commentary - Trade Now), which has been killed every time Meredith Whitney cuts numbers, and it goes higher and I wonder, "Can you say goodbye to the $160s?"
Or how about these auto-parts makers? I like Lear (LEA - commentary - Trade Now). I think it will go higher but I have been waiting for a pullback for months. Nothing. Or the natural gas stocks, how about a pullback? There I keep expecting one: The price of nat gas didn't go higher on bone-chilling weather. When is it going higher? But the stocks don't care.
Not one bit.
I like yield but my 7 percenters are now 6 percenters and I fear they will be at 5% soon.
When I go over what I want to sell in Action Alerts PLUS, stocks that have had big runs like Visa (V - commentary - Trade Now) and Express Scripts (ESRX - commentary - Trade Now) make me wonder how the heck I'd be able to get back into them.
I am well aware that this is the kind of thinking that "always" gets you in trouble. But it hasn't gotten you in trouble in 10 months. Why is it going to get you in trouble now?
In fact, I think of stocks like Amazon (AMZN - commentary - Trade Now) and wonder how terrific that pullback is. Or I look at Marathon (MRO - commentary - Trade Now) and think, darn it all, still cheap. Same with Chevron (CVX - commentary - Trade Now). Same with Transocean (RIG - commentary - Trade Now) after I read that piece in the Journal yesterday about the need to deep-water drill.
Or Boeing (BA - commentary - Trade Now).
You think Boeing's going to get hammered now that the Dreamliner is at last a reality? Do you think Boeing let that plane fly before it was tested nine ways to Sunday? Are you waiting for a $49 price tag because you don't think the beginning of what has been a seven-year long cycle is worth "reaching" for when the stock's way down from its highs?
I am always leaving room for some dastardly outside event. That makes sense in a scary world.
But otherwise I just think, "OK, we are going to work off the overbought just until things simmer a bit and maybe you get a quick break." However, shouldn't we have gotten that already?
That's the question, isn't it?
Because I don't have an answer, I am still not a seller.
And I want to be a buyer on the dips that never seem to come. Oh yeah, maybe Friday's employment number. Maybe that will give me a chance. Like it will everyone else. That, of course, could be the real problem -- everyone else needs in and the sellers just don't materialize as they are supposed to.
At the time of publication, Cramer was long Bank of America, Chevron, Express Scripts, Goldman Sachs, Marathon Oil and Visa. "
(in www.realmoney.com)
By Jim Cramer
RealMoney Columnist
1/6/2010 7:28 AM EST
"With the S&P oscillator at plus-7, I really want to be negative. With so many stocks breaking out, I want to be cautious, and yes, proactive, especially when a big unemployment report looms.
But then I see Ford (F - commentary - Trade Now) and I think, "Do you really believe that stock is going to be at $9 again?" Or I see Bank of America (BAC - commentary - Trade Now) and I wonder, "Has that stock not shown that the supply has been digested?" Or I see Goldman Sachs (GS - commentary - Trade Now), which has been killed every time Meredith Whitney cuts numbers, and it goes higher and I wonder, "Can you say goodbye to the $160s?"
Or how about these auto-parts makers? I like Lear (LEA - commentary - Trade Now). I think it will go higher but I have been waiting for a pullback for months. Nothing. Or the natural gas stocks, how about a pullback? There I keep expecting one: The price of nat gas didn't go higher on bone-chilling weather. When is it going higher? But the stocks don't care.
Not one bit.
I like yield but my 7 percenters are now 6 percenters and I fear they will be at 5% soon.
When I go over what I want to sell in Action Alerts PLUS, stocks that have had big runs like Visa (V - commentary - Trade Now) and Express Scripts (ESRX - commentary - Trade Now) make me wonder how the heck I'd be able to get back into them.
I am well aware that this is the kind of thinking that "always" gets you in trouble. But it hasn't gotten you in trouble in 10 months. Why is it going to get you in trouble now?
In fact, I think of stocks like Amazon (AMZN - commentary - Trade Now) and wonder how terrific that pullback is. Or I look at Marathon (MRO - commentary - Trade Now) and think, darn it all, still cheap. Same with Chevron (CVX - commentary - Trade Now). Same with Transocean (RIG - commentary - Trade Now) after I read that piece in the Journal yesterday about the need to deep-water drill.
Or Boeing (BA - commentary - Trade Now).
You think Boeing's going to get hammered now that the Dreamliner is at last a reality? Do you think Boeing let that plane fly before it was tested nine ways to Sunday? Are you waiting for a $49 price tag because you don't think the beginning of what has been a seven-year long cycle is worth "reaching" for when the stock's way down from its highs?
I am always leaving room for some dastardly outside event. That makes sense in a scary world.
But otherwise I just think, "OK, we are going to work off the overbought just until things simmer a bit and maybe you get a quick break." However, shouldn't we have gotten that already?
That's the question, isn't it?
Because I don't have an answer, I am still not a seller.
And I want to be a buyer on the dips that never seem to come. Oh yeah, maybe Friday's employment number. Maybe that will give me a chance. Like it will everyone else. That, of course, could be the real problem -- everyone else needs in and the sellers just don't materialize as they are supposed to.
At the time of publication, Cramer was long Bank of America, Chevron, Express Scripts, Goldman Sachs, Marathon Oil and Visa. "
(in www.realmoney.com)