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The Market Says the Fed Won't Help

By Jim Cramer

 About this article:
 Is the mind-set that the Fed is too late no matter what? I know that Inverness Medical (one of my ActionAlerts PLUS names) and McKesson had great quarters. But you would not get these jumps on these great quarters if it weren't for the belief that Armageddon is still lurking from mortgages. These stocks are going up because of a belief that Friday's employment number will be weak and a sense there is nothing that can be done to brake the coming slowdown. Contrast that with the endless selling of Terex and Caterpillar, which would be stabilizing if we thought the Fed was potent. And the fact that the JCPenney/Macy's/Sears Holdings complex can't rally to save its life -- although I want to take the other side of that trade when it comes to Target, Nordstrom and Polo Ralph Lauren. I see the reaction to McKesson,...

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