SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Teddy who wrote (20054)4/22/1998 9:52:00 PM
From: Shelia Jones  Read Replies (3) of 95453
 
Cramer is sanguineless about the oils and "no fan" either.

He is amazed our sector made earnings.

Wrong! Dispatches from the Front: Cramer on the Market's Schizophrenia
By James J. Cramer
4/22/98 9:00 AM ET

Did I say triple-schizophrenic? How about quadruple?

Never, in all my years of trading, have I seen a market with more personalities than this.

Let's break them down.

First, there is the shocking, downright amazing earnings syndrome. Take IBM, which I am long. Sure, that wasn't a great quarter. The papers, however, quite wrongly suggested it was weaker than expected. Hardly. The fact that IBM could deliver such unbelievable numbers in the face of so many problems is worth every one of the eight points it just earned.

Or Chase, which I am also long. Chase put on some amazing numbers. Okay, maybe you don't like trading gains. Then how about the reduction of bad loans to East Asia? That was a monumental decrease. Exactly the opposite of what now-retired Wrong Way George Salem told you would happen at Chase 40 points ago (please see my piece on that).

Or the oils and oil service. I am no fan of these guys now, and I see the writing on the wall that things could get worse down the road. But the amazing fact is that despite a dramatic decline in crude, everybody did pretty well. Didn't used to happen that way.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News