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i know this is the most bizarre thing on not just business tv but television in general. think about it. a one-man show about business? but i also know that you won t find investing advice this good anywhere else. you know that too or else you wouldn t be watching, unless you re one of those people tunes in to see if tonight the nights that i actually do go off the rails, by after multiple years of airing, is always a possibility on any given night. sorry, guys. there s a tape delay, but keep wishing. bound to happen one day although i do my best so it doesn t. this show is all about the method or methods to my madness. how do i pick stocks? what gets on the show? you always ask me that. why do you tell you that some stocks are worth buying now or on the dip instead of just like, hey, tomorrow. that s the question everybody would like to know. tonight i m going to give you pieces of the answer. let s get rolling. one of the easiest way i identify potential cramer names ....
difficult to figure out the overul direction where stocks are going to go. the dow finished down 45 after being down as much as 184 points. nasdaq lost .49 percent. sometimes the stock market re-evaluates the entire basis of companies we follow because of one metric. the metric of oil. you know, i have said to you over and over again we should never underestimate the power of the market to do stupid things and the most stupid is a rally based on the price of oil, which is exactly what we got when the averages u-turn pretty much in sync with the u-turn it crude. no matter the largely companies that would be better off if oil fell. we ve come to accept this loon ascy as gospel. but that s not the nutiest part of the stock market right now. i think it s the kind of weird back and forth we re getting of some of us largest enterprises that s really driving us craze crazy. the stock of the wells fargo after last night s resignation of ceo john stumpf because of what s now wid ....
was it the fed with so many voices calling for rate hikes? was it the consumer or the earnings for some companies or the fact that oil seems to be unable to break? every day we try to figure out what is ailing this market. this week i looked up the fabled july 15, 1979 crisis of confidence speech to see what jimmy carter said during a period where america was suffering from a collective malaise. and i quote, for the first time in our history in the history of our country, a majority of our people believe that the next five years will be worse than the past five years, carter told the nation. again, quote, it is a crisis that strikes at the very heart and soul and spirit of our national will, end quote. of course at the time we were suffering from gas lines caused by an opec embargo, and from wild inflation caused in part by a weaker dollar that eroded our savings. now the price of oil is on tenter hooks after being cut in half and it s the dollar s strength that s hur ....
up like alphabet nee google stock did. we also know when a company comes out with worse than expected numbers followed by the dreaded words cuts forecast as was the case after hours with amazon, the stock gets clobbered. but how about another category? a whole new one. it s causing stocks to jump today. the category that i want to call not as bad as we thought. the not as bad as we thought thesis helped get the averages from getting too hard today, s&p declining 0.3 percent. let me give you some prime examples. number one not as bad as we thoughter. why, it s bristol myers. not that long ago it was the gold standard, the go to name in the pharmaceutical business because it had the biest growth of all the old line pharma companies. some called it a biotech stock in disguise because of its massive rerating. the winningest anti-cancer franchise out there thanked to the break through drug opp tivo. you may have seen the ads for this one, the ones that encourage you to ask ....
confusion. even on days where the dow dipped 15 point nasdaq closed down 0.02%. let s start with politics. a subject i m usually loathe to talk about but the election is only eight days away, so let s give it its due. on friday, we learned that fbi director jim comey had decided to examine a whole new bunch of hillary clinton e-mails found as part of a separate investigation to disgrace former congressman anthony weiner. immediately the entire market took a hit. it was instantaneous. but right after that, a great deal of the market rebounded. buy, buy, buy. okay. first the market went down. sell, sell, sell. on the news because investors don t like uncertainty. for weeks now the market s gotten accustomed to the idea of a hillary clinton presidency whether we like it or not. that s irrelevant. not a political statement. just a reflection of what the polls say and how the stock market teinterprets that information. why did the market rebound almost immediately? i ....