Cramer: The irritating inconsistency
Jim Cramer | [email protected]
The lack of follow-through is the new pattern, and it is unnerving after such consistently positive patterns. And the stocks that break down, like Facebook and Linn Energy, both holdings in my charitable trust, are hideous.
That's why I am so stymied by the Baltic Freight Index, which after spending a huge amount of time in the 800s--so low as to be painful--has now gone above 900. The decline from 1000 in this index to the 800s foreshadowed the entire Chinese downturn. So what the heck is it doing up like this?
From what I have seen, there's no real demand coming from China for any building materials, anything bulk. But this isn't a made-up index that can be played with, like so much out of China. It's the real deal, and it is signaling improvement.
Obviously, both the emerging markets like China and the European market have been horrendous and are horrendously interconnected. I don't know a soul who is thinking about anything good coming out of China.
So, how do we reconcile this Baltic Freight move? I can't. Anyone else here have any answers?
Disclosures: Cramer's charitable trust is long FB and LINE.