Cramer: A case of seller's remorse
Jim Cramer | [email protected]
Consider the restaurant group. Remember the so-called terrible quarters from Domino's and Panera? They are both roaring back now. Domino's could be on a straight shot back to the all-time high reached before it reported, similar to the move we are witnessing with Buffalo Wild Wings.
They are circling back to the independent growth oils, especially with the Permian numbers coming out of Pioneer and the horrid numbers from the old-liners like Exxon Mobil and Royal Dutch Shell. So EOG and Continental move up more than 5 percent--and I don't think they are done.
Of course, the bulls can't ignore the retailers and retail-related stocks that had been knocking around for weeks on end, including two that had supposedly disappointed greatly: VF Corp. and Lululemon Athletica. I can do without the latter, but the former actually had exceptional numbers.
Oh, and speaking of "bad" numbers, remember the "disappointment" that was Google? Obviously the buyers don't, as that one's winning again.
Needless to say, few quarters were more disappointing than the transports: Norfolk Southern, UPS, and FedEx. They aren't disappointing now.
These remarkable runs are causing major seller's remorse.
That means people are holding onto stocks for dear life. They are afraid to sell. That's a pretty amazing quality I don't remember seeing on a sleepy August day in many years.
Disclosures: Cramer's charitable trust has no positions in the stocks mentioned.