"Extra! Extra! What a Day of Game-Changing News!"
By James J. Cramer
RealMoney Columnist
01/14/2004 06:59 PM EST
"Holy moly! What a bunch of game-changers!
First, let's take it from the top: J.P. Morgan Chase (JPM:NYSE - commentary - research). Should have guessed it immediately from the report put out by Brock Vandervliet from Lehman. You don't issue these things unless you have a sense of where you speak.
I think that Wells Fargo (WFC:NYSE - commentary - research), US Bancorp (USB:NYSE - commentary - research), Wachovia (WB:NYSE - commentary - research) and Washington Mutual (WM:NYSE - commentary - research) are too small in light of this game-changer. Remember the pattern in other countries: three or four banks, that's what they have. That's what we will have.
Second, speed-up of IBM's (IBM:NYSE - commentary - research) reporting. I love this one. Those short the IBM January 90 calls have to cover, causing this thing to go up wildly tomorrow morning before the report. And does anyone think that they moved up the report because things are worse?
Hoo-hah.
Then there are those pesky "disappointments." Intel's (INTC:Nasdaq - commentary - research) fine, don't sweat the program, if it comes to the $30 option orb, buy more. Yahoo! (YHOO:Nasdaq - commentary - research), well this company simply doesn't like to show earnings. That's almost what it is about. So please, don't panic-sell it, great quarter.
I have no real value added on Apple (AAPL:Nasdaq - commentary - research) other than it is still cheap, and I am not a QLogic (QLGC:Nasdaq - commentary - research) fan but I think that those who love it will rally to it in a point or two from where it went down.
Funny, the biggest news tonight is the upside surprise in Danaher (DHR:NYSE - commentary - research) a much-shorted stock that is going to gut the shorts this evening.
I used to say S's over N's, meaning the S&P will shine as the Nazz takes a day off. That's what I see happening in the morn! "
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