We Need a Bid to Sell Into
By Jim Cramer
About this article:
Need that bid. Need something positive from Nasdaq or oil that provides solid bids.
Yesterday in a video I argued about the false predictive value of the futures, which have become the only thing driving this thin market.
With oil down -- although the nat gas stocks should benefit from the Chesapeake sale -- we can't catch the support of the two key futures props, Exxon and Chevron , which are the swing factor.
With the actual components of the Nasdaq deteriorating rapidly -- Google ads, although nothing new but continuing to "dawn" on people; Cisco -- poor outlook; Intel glut a la Circuit City ; poor retail for Amazon ; so-so sales for Research In Motion ; consumer worries for Apple l all moronic SOX/semi-equipment stocks already upgraded -- that bid's vanished.
Of course, the real reason the bids have vanished is...
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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