Depressionists are scratching their heads after the Dow jumped 87 points on Tuesday. Even more surprising to them: The banks played a big part in this rally. Cramer favorites State Street and Bank of New York were up 10% and 9%, respectively. So much for nationalization.
Tech moved higher as well. Apple, Google and IBM all registered gains. So, too, did Cisco Systems, and analysts increased their estimates for Taiwan Semiconductor.
In oil, crude prices climbed a dollar, and all of yesterday's sellers poured right back into the stocks they had dumped. Chevron, Occidental Petroleum and Exxon Mobile slipped less than 1%, and Devon Energy stayed flat.
This kind of action was seen throughout the market on Tuesday. McDonald's , UPS and FedEx also added 1% or more. So where is all this resilience coming from? Does this mean investors have missed their chance to get in early? Do we no longer have to worry about another Great Depression?
Watch the video for Cramer's answer.
Cramer's charitable trust owns Chevron and Cisco Systems.
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