Sure, the Dow dropped 290 points on Monday, but don’t panic. This pullback was just a blip on the screen after six weeks of tremendous gains on Wall Street. There are signs that a new business cycle is beginning, Cramer told Mad Money viewers, “and it could very well turn out to be a good one.”
A number of factors are at play that softens the blow of today’s losses. For one, President Obama is finally on board, having dropped his anti-stock talk of late February/early March. Some of the market’s big declines came when the White House was repeatedly understating the averages’ importance. Well, not anymore. And Obama seems to have forgotten his initial call for changes in the tax code, charity deductions and cap-and-trade emissions standards. This is a main reason March saw such a strong rally.