Me jimcramer. You have a pessimist you have the camp that believes the latest covid outbreak is no big deal because the mortality rate is lower and then the super pessimist that say spiking cases mean no sports, no going out and millions of job losses these four camps, i have to tell you, they are going to they are at war every single day. Including this one, the dow gained 557 points, s p advanced 1. 34 and nasdaq inched up 4. 9 one can win because there is so much money going into stocks the recovery plays dont go up as Fund Managers need to sell one group to swap into another and thats why the dow stocks did much better than the s p that did better than the one scorching nasdaq this is highly unusual but it makes sense if you think out market in terms of competing camps. So who is winning . Or who won today i like to use the sore thumb index as in which stocks stuck out like a sore thumb today . Let me give you todays examples first tell is mccormick. The big spice maker roared to a
The other kind of baby i love my kids, but i especially love them now that they are adul adults this market is not an adult. Its a whalie wailing crying in. As it gets its way, its never content. After a day where the averages seesawed up and down, a classic past time for small children with the dow slipping 121 points and s p declining and nasdaq shedding 4. 3 , what does this darn baby want whats the pacifer that will smash your stocks . This is not an ordinary baby its like a bear cub and cant be separated from his mom. There is one thing that could be the stock markets mommy, the larger more important bond market when bond yields go down, the cub cries. [crying] because bond yells are viewed as a sign that the economy is slowing. And for a baby, thats pretty good logic, historically rates go down during a recession it doesnt matter how many times we demonstrate the u. S. Economy is doing just fine doesnt matter if the big retailers and Home Builders and talented ceos say business i
Yet thats exactly what just happened with the dow slipping just 143 points. The nasdaq backsliding a meager 0. 28 . Even though the price of crude spiked more than 10 gigantic, gigantic gain. How the heck is that even possible how could we have so many stocks that rallied on the news simple were a changed country. We have so much oil in this country and we have a lot of stocks that now do better with Higher Oil Prices and as well we have a lot of stocks that thrive if higher oil causes the economy to slow. The United States of today looks a lot different from the United States of even ten years ago first lets understand it looks like iran launched drone strikes that wiped out a huge chunk of saudi arabias Oil Infrastructure and theyre the biggest exporter in the world. That sent the price soaring, the biggest gain in 11 years and that translates into higher gasoline which means consumers have less money to spend on going out to shop. So we have it making per secretary sense. Theyve had
Very clear to me i hope its clear to you that selling into the teeth of the sell off early this week was a big mistake. I said so at the time and im saying it again because it is that important in fact, tonight i want to go one step further and immunize you against false fears, thats right, false fears that cause so many people to panic over the past few days. I have to go back to history i think it was an f. D. R. Moment where the only thing you had to fear was fear itself so many of these worries were totally groundless those fears set up the situation we havent seen since the many bear market bottoms in december. We had negativity as recorded by the Investors Intelligence index. Dramatic drop from bullish sentiment, bears rising. Those were negative readings when you see those kinds of numbers, its a reason to buy, not a reason to sell why . Because when you get numbers that weve had in the last week where all the weak handed bulls have turned bearish, that means there is no one lef
And for independencets 202 6280205. Lots of issues in the news to talk about including the unrest in ferguson. The fallout from the fraternity at the university of oklahoma. Hillary clintons personal email use. The letters sent by republican senators to the leaders of iran. What are you interested in this week . On the ferguson issue the front page of the usa today, how to fix ferguson is the headline. The Washington Times has the same photo. This is what the st. Louis postdispatch is writing about. Here is their headline. The ambush is still fresh. In a spot yards from where two Police Officers were shot hours earlier, the shootings escalated and already jittery city. It was an issue that the president addressed. This is what the president had to say. What has been happening in ferguson was oppressive and objectionable and was worthy of protest. There was no excuse for criminal acts. Whoever fired though shots that should not detract from the issue, they should be arrested. What we ne