Also, picking slow growers and a question about a new speculative play.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks closed mixed after reversing an earlier selloff, helped by rumors circulated that the Federal Reserve would soon cut the discount rate.
When it comes to Apple Inc., the bar is set so nose-bleedingly high that you gotta wonder whether this company is poised to perform or plummet when it releases earnings this evening. Shares continue to climb today, up another 2% at this writing, a kind of serene island in the midst of the volatile vagaries and stormy seas on Wall Street.
Traders expecting a sloppy day, with weakness at the open, but many are anticipating an attempt to stabilize right after that: others insist there is no reason to step in and be a hero on the long side.
Technology has been a big lure in an otherwise fishy stock market this week.
Steve Jobs has a message for third party software developers who have largely been shut out of the iPhone extravaganza: Call Us Up! In a sharp reversal to an earlier policy, and in an open letter from Jobs posted on Apple's web site, the company is now inviting software developers to create applications for the iPhone that would live on the iPhone's memory and not on the web.
Here are my morning observations: 1) Techs come through: after the disappointment of yesterday, when many regional banks hit new lows, the news flow is far more positive. We said last week techs had to make some positive noises to justify their recent runups: Yahoo, Intel, and Seagate all were better than expected.
Wall Street will try to shake off its housing induced malaise on Wednesday, with the help of some good earnings news from the tech world. But key inflation and housing data and another batch of major earnings before the bell will be play a big role in deciding the course for stocks.
Stocks fell after Fed Chairman Ben Bernanke said the housing slump is likely act as a drag on to U.S. economic growth, sparking investor concerns. "It was just last month Bernanke was saying things were contained, but now he's saying housing troubles can spread," said Brian Hicks, president of Wealth Daily. "This-flip flop in the last month has really spooked the markets."
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.