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Friday, May 29, 2009

Cramer: Time for a buying panic!

Let's say you're a hedge fund manager. You check your screens in the morning. You look around the world. And you know what you see? Green arrows everywhere. Markets up huge: Canada up 27%, Mexico up 16%, Brazil up 62%, Hong Kong up 26%, U.K. up 10%, China up 59% and just about every Asia market up gigantically.

Oh, and the Nasdaq up 11%.

Double digits everywhere.

And you realize, "Oh boy, am I behind."

There's only one way to pass the averages when they are galloping as they are now: Get longer than the averages. Buy stocks. Frantically buy stocks. Cover shorts. Find something in the Nasdaq to buy...

You do not think anything other than you are a cornered rat, desperate for performance. You see a rising tide in all nations and you wonder when it will wash up here and take you and your business with it.

The simple truth is that this spring, bull markets have broken out everywhere. Ever since the March 6 bottom the world had changed, and for the better. The depression ended.

No one has ever said you can't make money being long stocks in a recession, because recessions end.

They are ending worldwide.

You just don't read about it.

It makes real bad copy, particularly when the major outlets are populated with nothing but bears, who are unwittingly trying to discourage you from buying. And if you are a hedge fund, you plant that negative stuff every day.

But now it is the end of the month -- judgment day is coming. The world's bullish and buying.

You aren't.

Time to panic.

http://www.thestreet.com/p/_jcblog/rmoney/jimcramerblog/10506893.html

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