Empresas do Estado cortam mais de 5 mil milhões à dívida

[Ulisses Pereira]

Cramer continua "bullish" e a acreditar nos 10000 pontos do Dow a menos que as "bonds" cheguem aos 5%...

"Tech Upgrades Signal Limited Downside"

By James J. Cramer
09/02/2003 08:52 AM EDT



"You can't blame the analysts for upgrading in tech. In the new world, analysts are more worried about the downside than the upside. They are frightened of recommending something and then having it blow up on them.

That's why the reactions to first that not-so-hot Hewlett-Packard quarter and then the Novellus guidedown were so emboldening. If these two companies could miss on guidance -- in H-P's case, by a mile -- maybe the downside on recommending Dell or Seagate is minimal. Maybe upgrading Intel even after this run isn't such a wacko idea.


Is the downside as minimal as these analysts seem to think? Right now, I think, yes. I continue to believe that as the economy gets better but bonds trade locked in the 4.5% range, we have re-entered a sweet spot where the news will be good and the shocks minimal. There simply isn't enough bad company news out there.

Two Fridays ago, we had a real breakdown in the market. There was a level of ugliness that took lots of people by surprise and triggered another round of shorting.

Since then, the market has been as benign as I have ever seen it. To me, that environment will continue. And the shorts put out two weeks ago are about to come home to roost this week.

Another reason to stay long. "

(in www.realmoney.com)