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The Banks Are the Missing Piece

By Jim Cramer

 About this article:
 Tech, oils but no banks. That's the scenario that's worrying me right now, because without the banks we cannot sustain this rally. That's not me being bearish, that's me being realistic. This rally will fade if it is based on tech, oil and the industrials, as it is now. With Wells Fargo teetering and JPMorgan always looking like it is rolling over and Goldman Sachs failing, you fall prey to a market that is based on productivity and job cuts and not expansion and credit improvement. I like a market up on weak-dollar job-cutters as much as anyone and am gratified to see 3M and United Tech ramping. But Regions Financial , Huntington and Citigroup are more important at this point because we have to be able to continually reliquify the banking system with equity offerings that can make us...

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