TheStreet.com RealMoney

A Boxed-In Market

By Jim Cramer

 About this article:
 Why isn't the market acting better after Warren Buffett's big bet on Burlington Northern, his biggest deal? Because it's a crummy market right now, one that no one believes in, one that everyone has one foot out the door of and one that revolves around oil, tech and banks. Oil is making a big move here, a nice recovery actually. Who knows how much lower we would be if oil hadn't rallied? It was down in the middle of the night and totally pressured the futures, as it is the single most important determinant of prices, given the commoditization of the market. Tech can't rally on a day when Morgan Stanley downgrades the semis. Important downgrade, given how good the analyst is. Banks? I am becoming convinced that until we see secondaries from Wells Fargo and Bank of America, we won't get any lift, because these are free...

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