Cramer: In a 'Mason Storm' moment
Jim Cramer | [email protected]
I mean, you can only go up so much on the same news over and over--and the news is fine, not blowout. We had a weak GDP number (which was explained away). We had earnings that are fine. We had housing that is fine. We had no growth in Europe--and that is fine, too.
You can only go up for so far on "fine" without feeling like Larry Fine, the dumbest of the Three Stooges.
All that said, I think this market remains in "Mason Storm" mode, the Steven Seagal character in "Hard to Kill." In the movie, Storm was shot and remained in a coma for years but came out strong enough, after some training, to take on a corrupt politician and an army of thugs--and he managed to prevail because he had a superior attitude and a superior state of mind.
I like the imagery, if only because it is a reminder of a market that seems fictional in its run with almost every sector performing well.
Of course, if we get something "better than fine"--meaning a couple of upside surprises from some of the remaining industrials and retailers and a decent employment number--we could be right on track.
In the interim, after enjoying the best January most can recall, we're back in the coma stage for the moment. When the market comes to, I wouldn't be surprised if it challenges those highs that are so tantalizing right now but aren't yet ready to be taken out.