I have seen the future, and it is German manufacturing orders! We are always looking for totems when we are teetering on the second dip, and a number that came out today from Germany showing a 4.4% increase in May manufacturing orders -- the best in two years -- ignited the European markets and should do the same for ours.
It's been no secret that our economy's doing nothing while the Chinese economy does all the heavy lifting. But what happens if Europe, which is supposed to be so, so sick, gets better? I don't know a soul who believes that Europe isn't worse than the U.S., with their banks being in far worse shape and their governments showing no signs of being worried about anything but Weimar.
If you get Europe moving and you get China moving, and for many of our companies, we won't even matter. Caterpillar (NYSE: CAT) (Cramer's Take), United Tech (NYSE: UTX) (Cramer's Take), Emerson (NYSE: EMR) (Cramer's Take), Eaton (NYSE: ETN) (Cramer's Take) -- they are looking to Europe for help.
Looks like they will get it.
The stocks that were thrown away yesterday are now set to have a good day because of a piece of information out of Germany that no one thought a thing about 24 hours ago. Or 24 days ago or months ago, or whatever.
Nice new twist to last week's bad action.
Jim Cramer is co-founder and chairman 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 had no positions in the stocks mentioned.
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Reader Comments (Page 1 of 1)
7-07-2009 @ 11:22AM
debo said...
Why would anyone listen to this idiot.
7-07-2009 @ 11:32AM
Tom said...
Someday Jim Cramer will be absolutely correct, but not today!
The worst is yet to come.
7-07-2009 @ 12:32PM
Richard A Yacenda said...
Debo why would any rational person listen to you. Cramer is far from an idiot although he sometimes acts like one Debo please shut up or present your credentials to comment like that.
7-07-2009 @ 12:41PM
riprog said...
Ditto Debo, Crammer is a crackpot. Last week this guy was cheerleading the cause of a second Government stimulas package because the first wasn't big enough. Now this week German MFG will save the world? The thought of Germany saving the world is rather ironic isn't it? German MFG vs American deficit spending.
7-07-2009 @ 1:07PM
tom Williams said...
So far Cramer, it looks like you're the only one that got the news.....market down 102
7-07-2009 @ 1:28PM
ihatedildos said...
CRAMER IS AN IDIOT. HOW DO YOU PEOPLE STILL WATCH HIM AND BASE YOUR INVESTMENT DECISIONS ON WHAT HE SAYS AS HE'S RINGING COW BELLS ON TV AND LEADING YOU TO BANKRUPTCY. HE CERTAINLY WASN'T TELLING PEOPLE TO GET OUT OF THE STOCK MARKET 2 YEARS AGO AND IN 2000. THEY WERE HAVING PARTIES ON TV IN THE YEAR 2000(AT THE MARKET TOP) WHEN MOST OF OUR COUNTRY WAS ABOUT TO BEGIN LOSING ALL OF THEIR WEALTH. SOME GOOD INVESTMENT ADVICE......DON'T FOLLOW THE HEARD!!!
7-07-2009 @ 2:04PM
ebrandler34 said...
"Herd", my friend. "Don't follow the herd"
What I don't get is how Mr. Cramer has become a knee-jerk cheerleader for the bulls suddenly. The path of least resistance right now is 600 points down, not up (in the Dow).
I would bet odds that we see 7800 before we see 9000.
7-07-2009 @ 3:36PM
charles.carr06 said...
If this idiot thinks American unemployment figures aren't a key factor, I wonder what color the sky is in the world HE lives in!