Mad Money

Can the Market’s Move Be Trusted?

Clear and Present Buying

Once again the resiliency of stocks contradicted the doomsday scenarios being touted by the market’s bears, Cramer said Thursday. The Dow climbed 30 points today, while the S&P 500 added another three points, all despite a host of reasons for investors to expect an opposite outcome. The Mad Money host had to wonder if there was something terribly wrong with the market.

After all, consider the most recent economic news: The retail sales and unemployment claims announced Thursday were disappointing. President Obama said he wants to tax TARP-funded banks before they are back on their feet. Health-care reform is about to pass. There are signs that credit-card defaults haven’t yet peaked. And natural gas, which Cramer said has been integral to this rally, has been taking some serious hits. How could the market post gains in the face of all this?

Because “while not great, business is a heck of a lot better than what the data says or how the bears at the mic spin it,” Cramer said. “And I think we know it is getting better, slowly but surely, everyday.”

Look, those retail sales numbers don’t match up with what we know about improving auto and store sales. Sure, the employment situation is still precarious, but there has been steady improvement. And joblessness forces the Federal Reserve to keep interest rates low, and that makes stocks more attractive. Then there’s health-care reform, which by now has been so watered down that the HMOs have far less to worry about. That’s why their stocks are ramping.

Of course, some could say the stocks are wrong. And, yes, in the short term that could be the case. But these moves have been happening for far too long – the better part of a year already – and markets never lie over the long term, Cramer said.

That means the rally is real. It means the market is right, and the bears are wrong.

“And they’re the ones,” Cramer said, “who are missing this once-in-a-lifetime opportunity to get back to even.”

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