Cramer on BloggingStocks: Weary of the rally?

Posted Sep 16th 2009 10:00AM by Jim Cramer
Filed under: Apple Inc (AAPL), General Electric (GE), Market Matters, Caterpillar (CAT), Chesapeake Energy (CHK), Deere and Co (DE), Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer says it's great to see stocks go up, but discipline remains paramount.

Can you weary of a market going higher? Can you be as exhausted of the rally as you are of a selloff? Sometimes that's how I feel when I look at my bases for stocks I own and where they are now and realize the impossibility of reaching for even the best names. It feels like what happens when you bought low, and then it turned out that things could go much lower. You feel like you should sell, but then the stocks go much higher and you get left behind.

This is a time when discipline has failed people. It is when the market is most electric and exciting and people just figure, "What the heck? I will hold on to that Caterpillar (NYSE: CAT) (Cramer's Take) or Deere (NYSE: DE) (Cramer's Take) or Chesapeake (NYSE: CHK) (Cramer's Take) or Devon (DVN) (Cramer's Take) ... and why not? It hasn't hurt me."

The cyclical stocks have all had 20% moves in a heartbeat, and yet they are not expensive if we have a growth economy.

Apple (NASDAQ: AAPL) (Cramer's Take)? Maybe it is the cheapest when the new accounting rules come in for smartphones that make them like regular phones. Right now it seems expensive, but I made the case last night that it could be anything but.

But good things keep happening. The new tax law changes for commercial real estate are going to take a bite out of that forbidden fruit, and I know that all the bearish wags I talk to about CRE (as it is known) didn't see this coming. No wonder all of these REITs people are short can keep going up.

Along with GE (NYSE: GE) (Cramer's Take).

So much good.

But so high.

That's really the issue, isn't it?

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 was long Devon.

Tags: aapl, cat, chk, de, dvn, featured, ge, jim cramer, JimCramer

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Reader Comments (Page 1 of 1)

9-16-2009 @ 10:16AM

Beltway Greg said...

Cramster, here's the deal player. If Apple doesn't hit at least $220 Jon Stewart is going to run your butt out of NYC on a rail. For the readers at home please don't confuse Jon Stewart with recently departed former Kingston Trio member John Stewart best know for his 70s hit "Gold" featuring ethereal background vocals from one Stephanie "Stevie" Nicks and a fabulous production job from Lindsey Buckingham both members of Fleetwood Mac all of whom are available on ITunes.

See you at $200 Johnny Stew.

9-16-2009 @ 12:28PM

Beltway Greg said...

And could someone please grab CNBC talking head Art Cashin? In August he was following Ramadan as a potential trading point and now he's looking at the Autumnal equinox. Art, not all of the food is tainted.