TheStreet.com's Jim Cramer says the tech giant's earnings upside surprise should lift some gloom.Very difficult to fathom what's going on here. No real data points, nothing really happening except emotion.
That was, until after the close (Tuesday), when we got Hewlett-Packard (NYSE: HPQ) (Cramer's Take).
Most people won't believe that HPQ is zero-sum, which in many ways it is. We will see another rally in tech a la the rally after Cisco (NASDAQ: CSCO) (Cramer's Take) blew up and then didn't blow up, because HPQ is very bellwether-ish.
I think this market was looking for a catalyst -- beyond spiking commodity prices -- and it might have caught it in this HPQ number.
This is a market that is starved for good news away from the endless rally in natural gas/coal and oil.
Starved.
When it gets it, the way Cisco didn't go down after its now notorious guidance, you can catch a rally.
Worth betting that way for now.
Random musings: GM's (NYSE: GM) (Cramer's Take) building's price might cause people to re-evaluate the selling in a Vornado (NYSE: VNO) (Cramer's Take) here. Might even make people feel better about the commercial real estate portfolio that got Lehman (NYSE: LEH) (Cramer's Take) slammed yesterday.
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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long Hewlett-Packard.
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Reader Comments (Page 1 of 1)
2-20-2008 @ 12:07PM
JDromm said...
Hard for me to be excited about HP when the current price of the stock is still about $ 6.00 less than in December and I own it.
2-27-2008 @ 1:42PM
Eddie said...
Get your $ back! NTDOY will be $144.00 by November
2-20-2008 @ 1:01PM
renato said...
i like ford instead of GM , for the long term play !
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