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Feb.06
9:11 PM ET

The Dow Jones Industrial Average surged 217 points on Friday, even despite a horrible employment number before the opening bell. That the market could rally regardless of the worst jobless rate in 16 years – 7.6% – showed a resilience not seen in some time. As long as new Treasury Secretary Timothy Geithner doesn’t break Wall Street’s spirit when he announces his financial plan on Monday, this uptrend might continue. Especially now that the bad news – jobs and a slew of poor earnings reports – is out of the way.

The chance for a string of good trading sessions isn’t the only reason to be positive. Cramer has found 10 noteworthy market trends, all of which popped up this week. In a sense, a new world’s been created in just seven days. Well, maybe conditions aren’t that bullish. But overly negative investors will miss what opportunities this market has to offer. So consider the following list before completely giving up.

First reason: The Federal Reserve is willing to do whatever’s necessary to save this market. Chairman Ben Bernanke and gang said as much in this week’s meeting.

Number two: While the U.S. may be struggling to pass a worthwhile, infrastructure-heavy stimulus plan, other countries’ spending is already driving the market. See: China.

Three: The Baltic Freight Index, a measure of world trade, has really taken off. It was down heavily last year, but a turnaround is well underway thanks to Chinese demand. Commodities like nickel and copper are up, and oil has finally bottomed, signs of growing strength in the global economy.

Numero cuatro: Again with China – that country’s market is up 20% so far this year. And the Chinese economy is starting to consume mass commodities with the voracious appetite for which its known. That will help to work off any worldwide inventories in coal, steel, copper, aluminum, as well as grains and consumer goods.

Reason five: Despite a negative outlook from Cisco Systems [CSCO  Loading...      ()   ] and State Street’s [STT  Loading...      ()   ] dividend cut, both stocks finished the week up 11.3% and 29.7%, respectively. If money can’t be made shorting such horrible news, then the market’s already sunk too low.

Sixth: Wal-Mart Stores [WMT  Loading...      ()   ] seemed to indicate that people are spending money again.

Seven: Reports showed that housing sales are up in markets where prices are down. Combine that with a $15,000 tax credit for homebuyers, and Cramer thinks a sector bottom could still happen this year.

Number Eight: The hedge-fund selling that hurt so many stocks is over, at least for now. It looks like client redemptions have slowed, giving these funds a much-needed breather.

Ninth reason: The market finally has real leadership in Apple [AAPL  Loading...      ()   ], Research in Motion [RIMM  Loading...      ()   ], Google [GOOG  Loading...      ()   ] and Amazon.com [AMZN  Loading...      ()   ]. These stocks could take all stocks higher.

And lastly: UPS [UPS  Loading...      ()   ] reported a decent quarter and announced that the transport business isn’t as bad as Wall Street thought. Cramer looks at these transports as a major indicator of the economy’s turn, he said, and the buying in Fed Ex [FDX  Loading...      ()   ] and rails means that investors agree.

So while there’s no reason to be Pollyanna just yet, Cramer thinks there’s a case for being positive.





Cramer's charitable trust owns Wal-Mart Stores.

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