Day for the bulls . The dow jumping 215 points. S p roaring 1. 69 . Nasdaq rocketing 2. 4 . Just a monster rally, obliterating the memory of the weak past. Ive got a Pretty Simple answer about how it happened. We bought them, because we checked off every single box of my proprietary nobottom until checklist that was needed for the derailed bull to get back on track. And we did so with record speed. Thats why tonight, i want to walk you through the check lis i created eight days ago in the midst of the markets hideous decline and turmoil. A checklist that would produce an investable bottom like we have here, if the criteria were fulfilled, so you could understand the significance of whats actually happened out there and, frankly, recognize its rationale. I set up ten concerns that had to be addressed. Ten hurdles, so to speak, and told you we needed movement on all ten for this market to make a uturn and give us a sustainable rally. Almost instantly on twitter jimcramer, i was bombarded
Nasdaq climbing after a week of playing teeter totter between the bulls and bears. We got to ask, are we done going up . Maybe not but i think the market likes leadership and right now, its gotten very hard to find new leaders. Lets get right to it. Start with tech. You search through the once huge group of the s p 500, you know with the white flag that went out this morning by blackberry and the endless decline in dell sales symbolizing pcs, you simply dont have that much to cheer about. Save one small section of tech, which is telecom spending. They badly need to upgrade, tmobile, sprint, at t, verizon, there simply arent enough telco techs to get the averages going, we need that group. Instead, there is intel, microsoft, oracle, ibm, hewlett packard. Tales of woe. Sell, sell, sell. All seem played out, dormant. Comatose. Apple iphone unfairly viewed as the same old, same old, without knowing about it. The peaking of samsung, there has been a huge propensity to say that smartphones a
[ booing ] you have to resurrect the words of the consummate stock genius, hunter s. Thompson. The truly fathomed the depths of derision, professional Money Managers feel toward this market. The freight and the hate defined this darn tape even today where we ultimately rally with the dow climbing 89 points. S p gaining. 68 and the nasdaq advancing. 9 and the bullish big boys run scared. So what do the pros fear . I think they actually fear four things. The first is japan. We dont talk enough about japan on this network and me personally because, frankly, whats happening there i regard it downright scary. The land of the rising sun is what looks like a failed strategy to get some sort of boom going. The japanese stock market is down 14 this year, by far the worst major market in the world. Did you know that . Countrys retail sales have pummelled and pummeled. They plummeted after a recent hike in taxes, and the japans inflation which seems comatose and is not responding to any meds. Sec
Magical turn is happening . If you want any of those like i have i think it will be obvious the turn is at hand and it could be a huge one. So big that it might actual bli the major reason why the internationally oriented stocks dont come in. Why the s p is hitting a high. Dow up two points. Nasdaq climbing. 36 . Because these stocks arent going to come in. The evidence is that compelling. Even as the conventional media keeps missing this huge swing and how disappointing the earnings have been so far. Complainers. Do homework for heavens sake. This is the real deal. Mad money viewers will be way ahead of the game on this story. Some people are skeptical about europe. They were doing the wrong thing. Raising Interest Rates twice, except for when it comes to uneconomic Renewable Energy and yes, european earnings from mcdonalds this morning were disappointing as were the american numbers although after listening to mad money friday, the cfo, i wonder if the issues at mcdonalds, maybe its
As we did earlier today. Only the dow inched off, s p slid. 20 . Nasdaq advanced. 04 . Take this morning, im walking out of the New York Stock Exchange after squawkon the street, going in at the exact same time is the comanager of my Charitable Trust. She sees me and said what do you think of the decline in aerospace here . I said, it makes no sense to me. We know business is trick. She couldnt think of any reason for the weakness either. I said, maybe its the failed sale of b. E. Aerospace. They make seating and galleys. Not that long ago, the company decided to explore strategic value. We know there has been tremendous takeover lately. When i read that b. E. Is going to break itself up rather than sell itself, i figured that maybe someones using this news to make the case the aerospace cycle has slowed down. B. E. Was down 5 when we saw each other. It did reflect poorly on the airline business. At least as of that moment. She said, how about buying United Technologies for the trust,