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Aug.13
7:00 PM ET

Some people are never satisfied. Or, more to the point, the media isn’t. They haven’t been happy with any of the market’s good news recently, Cramer said. Company after company has shown signs of resilience, but the press has all but shrugged them off.

Macy’s [M  Loading...      ()   ] delivered a better-than-expected quarter, but reports focused on weakness in supplier Liz Claiborne [LIZ  Loading...      ()   ]. Urban Outfitters [URBN  Loading...      ()   ] announced great earnings, but people harped on the incremental same-store sales increase. Caterpillar [CAT  Loading...      ()   ] was panned for poor sales, too, but this is a company that should be in much worse shape at this point in the business cycle. Cramer thought the negativity was causing financial journalists to miss the big picture.

“The fact that these companies aren't at death's door,” he said, “that is the real story.”

Investors know this, though, and that’s why the stocks are trending higher. Maybe the media sees only the worst, but shareholders are rather astounded that these companies are still on their feet. If earnings are this good after the worst economic contraction since the Great Depression, how well would a Toll Brothers [TOL  Loading...      ()   ], Ford [F  Loading...      ()   ] or Walmart [WMT  Loading...      ()   ] – all shunned by the press as well – do when things get better?

The media wants everything, Cramer said – better sales, better margins, better earnings – but that’s impossible given the economy right now. So it’s important to take note of the positive developments that companies are reporting. Those that don’t will continue to miss the big moves that these stocks have made.

“Don't let the press confuse you,” Cramer said. “We are almost at Dow 9,400 because things are better than you think, and still improving by the day.”

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