Gained 123 points, an alltime high, the s p climbs and the nasdaq climbs 1. 10 remind us why we stay in stocks for the long time. Every day were bombarded by negativity on a daily basis. This market has no real champions, despite its record shattering performance i know its hard to stick wit. Too many people come on to try to scare you just when you think the stocks have to go down for the count because of the alleged transgressions say of the sons of the father or at least Donald Trumps son, or janet yellen may say the wrong thin or because north korean missiles are pointed towards the aleutians, we get a day like today, where hopefully you can remember that sometimes things can work out for the bulls. What triggers this rally there are a variety of factors we had yellin telling you a good story of growth. We had a big dip in Interest Rates which reminds us there are higher yielding stocks that arent worth throwing away we had rumors that the president s chief economic adviser gary co
Tweet me jimcramer. I dont know about you, but it feels better, doesnt it . Is it actually better . Pretty good consolidation following yesterdays big run. Dow inched up, nasdaq climbed. Thats why we have our checklist, the one i created back in midjanuary when it was ugly to help determine if this market has what it needs to give us a sustainable rally. Not a tradable one but a sustainable one. We said the fed has to give us clarity about where it stands on rate hike and the last week weve had two, the new york fed downgraded their views of the economy will be cautious about the rushing to rate hike judgment. As long as we dont get a smoking hot employment number on friday. This is good enough for government work. You know what im doing . Im checking it off. Two, we need some resolution to the political uncertainty. List, we had no certainty in either party. After last night, barring some extreme, its hillary versus the donald. Now we can create portfolios for either eventuality. Mayb
We expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Fourth, do we have a commodity bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from increased demand which is what we like but from reduced supply so what were going to do is give it a check mark. Box number five, oil needs to stop going down. The relentless slide must end. Hmm. We had a big inventory increase today and it didnt get hammered, it went higher. New pattern. It looks like oil stocks have stabilized. Im feeling good crude may have bottom. I dont expect a big rally the market but the down side seems to be quantified so i am saying check. Six, we need to see some improvement in the geopolitical scene. Here we have a definitive check. North korea started this, no
As long as we dont get a smoking hot employment number on friday. This is good enough for government work. You know what im doing . Im checking it off. Two, we need some resolution to the political uncertainty. The last time we went down the list, we had no certainty in either party. After last night, barring some extreme, its hillary versus the donald. Now we can create portfolios for either eventuality. Maybe ensuring our portfolio for some of them. I say check third, we need china to get better. Its gotten worse but the frame index has been creeping up slowly and theres be a big Chinese Parliament meeting where we expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from incre
1. 02 and the nasdaq plunged 1. 14 , i think being old is a very good thing. Whats so great about being old . Simple, i remember things. Things that can be valuable to all of you, because ive lived and traded through them. Right now, of course, were in the midst of earnings season. The news is coming fast and furious. Boeing missed the forecast, is the honeymoon at yahoo finished in the wake of the not so hot quarter and the slowdown . In a normal day, we pick them apart, questioning whether facebooks quarter was as good as it looks. I think it is. These are not normal times. Other forces are at work. Forces that are not necessarily bigger than individual companies that make up our stock market can still trump them shortterm. Lets set the tableau you and me. Nothing to do with the Earnings Report, which like every other day have been good with only a few real stinkers. Typically on the guidance, too, not the quarters themselves. The weakness is from emerging markets and their likely im