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Cramer on BloggingStocks: Setting up for Tuesday

Posted Sep 28th 2009 9:30AM by Jim CramerJim Cramer RSS Feed
Filed under: Darden Restaurants (DRI), Research in Motion (RIMM), NIKE, Inc'B' (NKE), Cramer on BloggingStocks

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TheStreet.com's Jim Cramer says a good shakeout on Monday would prepare us for a "fulcrum day" on Tuesday.

Could have been worse. With Research In Motion (NASDAQ: RIMM) (Cramer's Take) never lifting -- which was, by the way, wrong after a certain point -- and oil not rallying, you had no place to go. Last week we lost tech, banks, and oil. You can't even go up with just two of them, so to lose all three was dreadful.

I said last week that the calendar just didn't favor the bulls. The propensity to want to lock in gains ahead of the last weekend in September -- the one that is ended by the Yom Kippur holiday, which will always have thin trading -- is just too great.

Plus, don't forget that every month that is supposed to be bad gets tons of play for being bad: October! Ooooooo, scary! You know that's going to happen again.

I think the media never tires of saying that some month or some season is bad, and brings on guests who stand for these propositions. It's probably a good idea to sell ahead of them and then buy when they say it!

But Tuesday could be a fulcrum day. I figure the markups and Nike (NYSE: NKE) (Cramer's Take) and Darden (NYSE: DRI) (Cramer's Take) will give us a rosy hue, and the desire to not be short ahead of what already is being rumored to be a good employment number could propel the market back to levels that are parallel to where we were.

Still, remember, when you hear "Dow 10,000 is a foregone conclusion," you need to sell, no matter what.

But the corollary is true too: If you hear "Dow 9,000 is a foregone conclusion," you will need to buy, buy, buy!

I found myself rooting for a big decline Friday to get in shape for Tuesday. We didn't get it. Pure torture.

But there is always today!

Jim Cramer is cofounder 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.

Tags: Darden, DRI, featured, Jim Cramer, Nike, NKE, Research in Motion, RIM, RIMM

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Last updated: November 26, 2009: 07:15 AM

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