Depressing Research Presents an Intriguing Possibility By Jim Cramer About this article: I took a most disheartening trip through the S&P chartbook over the weekend. This was a time-honored tradition that I stopped doing when I quit as a full-time manager, but I have had to restart because things have gotten so darned hard. I was bent on doing what Steve Smith talks about elsewhere in his great column on the site, looking for non-financials that seem interesting. I found almost nothing. All of the stocks with consistent growth -- the Baxters and Bards , have multiples north of 20. The Colgates , Cokes and Pepsis are down but not down enough, with the former being really expensive. The limits of price improvement seem stacked against you. The ag/oil/coal complex is badly overextended, making you feel that this oversold pullback hasn't given you enough decline, although I like those. In fact, the only charts that were really any... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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