Cramer- "Prowling Bears Keep Market Healthy for Bulls&q
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Cramer- "Prowling Bears Keep Market Healthy for Bulls&q
"Prowling Bears Keep Market Healthy for Bulls"
By James J. Cramer
05/29/2003 02:15 PM EDT
"Nice to hear from the bears again! I was getting nervous with these averages ramping every day. The bulls have sown the seeds of their own destruction with too much upside too quickly; it was important that the market break the bears' way, if only to make sure they don't become extinct.
Seriously, we can't keep going up if we have days like Tuesday followed by several big days after. That's the old pattern, the pattern of short and cover, short and cover, that makes any rally a brief affair. Now we have something major going on and I think it can last. Only, though, if the bears are allowed to prowl around and strut their stuff, intraday reversal-wise.
Why am I so confident? Because I see the liquidity, I know the spigot is full on and I never buck that, ever. It takes a fool to buck the level of liquidity we have right now. It is too powerful.
Mind you, I am not one who says that as we go higher, it gets cheaper or more exciting. I think the easy money has been made in many sectors. But this little bear run could take things back to levels where we could make easier money.
In the meantime, let's just be glad that these folks who think that the sky is falling are still on the loose. The moment they disappear and the only bears are those in the zoo, well, that's the moment we have had about all of the long side fun we're allowed for the duration. "
(in www.realmoney.com)
By James J. Cramer
05/29/2003 02:15 PM EDT
"Nice to hear from the bears again! I was getting nervous with these averages ramping every day. The bulls have sown the seeds of their own destruction with too much upside too quickly; it was important that the market break the bears' way, if only to make sure they don't become extinct.
Seriously, we can't keep going up if we have days like Tuesday followed by several big days after. That's the old pattern, the pattern of short and cover, short and cover, that makes any rally a brief affair. Now we have something major going on and I think it can last. Only, though, if the bears are allowed to prowl around and strut their stuff, intraday reversal-wise.
Why am I so confident? Because I see the liquidity, I know the spigot is full on and I never buck that, ever. It takes a fool to buck the level of liquidity we have right now. It is too powerful.
Mind you, I am not one who says that as we go higher, it gets cheaper or more exciting. I think the easy money has been made in many sectors. But this little bear run could take things back to levels where we could make easier money.
In the meantime, let's just be glad that these folks who think that the sky is falling are still on the loose. The moment they disappear and the only bears are those in the zoo, well, that's the moment we have had about all of the long side fun we're allowed for the duration. "
(in www.realmoney.com)
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