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1800743cnbc or tweet me jimcramer. Sometimes this market can be incredibly difficult to navigate, because the crosscurrents are so powerful and so crushing. Today, for example, the averages got slammed by a wholesale collapse in the commodity complex, especially oil. But then the republicans passed their Obamacare Repeal bill in the house of representatives in the afternoon and we rebounded. The doubt ultimately sinking six points, s p advancing 0. 06 , nasdaq edging up 0. 05 . It was like there was no session at all. Whatever your opinion of the health care bill, wall street likes it. Because it contains tax cuts and demonstrates that Speaker Paul Ryan can actually do his job. You might have expected the market would roar on the news. Nope. The broader economic backdrop is just too grim right now. With the fed set to keep raising interest rates, right when business seem ....
Is the selloff over already . Was that it . Point blank, the answer is no on a day when the dow gained 135 points, s p surged, nasdaq surged you need to know that the market sadly doesnt work like that. The month of august is notorious for declines like the one we had last week. Much of september also in other words, its selloff season this is when we get hit with short, sharp, fearinducing pullbacks. Happens almost every year. I need you to get ready for it remember last week we had Terrible Bank stock performances, and a famous huge funds manager says theres far more risk in this market than they believe that combination caused a serious run for the exit hey, lets call it as we see it. You know what it was it was a wholesale panic and with all panics, it created bargains buy buy buy but were you ready for them this kind of activity is why i recommend raising cash after big runs like we had this year why . Because when we do pull ....
Dropped. We need to roll up our sleeves and figure out what can be bought now that were having a pullback from the monster rally weve had for the past three days. For the dow and nasdaq, its the best since august of last year. Were far along in earnings season so we have a real good feel now for how companies are doing. Which means we can figure out what stocks are going to become appealing as the market comes in for profit taking as it almost always does after real rip snorter of a rocket rally. You may ask why is it worth bothering giving there are so many real problems out there. Why not say we missed it, sorry . First, the problems are a little less problematic than they were. For instance, the Federal Reserve is more on our side than we thought. Last night, james bullard, the hawk to end all hawks, the st. Louis Federal Reserve president who was so optimistic back in t ....
Why not say we missed it, sorry . First, the problems are a little less problematic than they were. For instance, the Federal Reserve is more on our side than we thought. Last night, james bullard, the hawk to end all hawks, the st. Louis Federal Reserve president who was so optimistic back in the fall is now openly questioning the need to even discuss more rate hikes because of all the turmoil out there maybe even from the last one. Thats my addition to it. Man who recognizes the facts have changed and thus he needs to change his mind, too. That level of flexibility is a good send, a tip to the hat to mr. Bullard. Second, the dollar, the bane of so Many Companies existence has ceased to climb relentlessly against the basket of currencies i follow. Sure, its roared again versus that venezuelan currency where a dollar b ....
Feel now for how companies are doing. Which means we can figure out what stocks are going to become appealing as the market comes in for profit taking as it almost always does after real rip snorter of a rocket rally. You may ask why is it worth bothering giving there are so many real problems out there. Why not say we missed it, sorry . First, the problems are a little less problematic than they were. For instance, the Federal Reserve is more on our side than we thought. Last night, james bullard, the hawk to end all hawks, the st. Louis Federal Reserve president who was so optimistic back in the fall is now openly questioning the need to even discuss more rate hikes because of all the turmoil out there maybe even from the last one. Thats my addition to it. Man who recognizes the facts have changed and thus he needs to change his mind, too. Good send, a tip to the hat to m ....