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Reason to Rally
By Jim Cramer
RealMoney Columnist
Reason to Rally
By Jim Cramer
RealMoney Columnist
2/16/2010 11:48 AM EST2/16/2010 11:48 AM EST
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Correction? Did anyone believe that the highest percentage of people calling for a correction in the Investors Intelligence Poll in 27 years could be right?
Did anyone think that we could be at a moment where Greece could bring us down any more than Dubai did? Both market-moving episodes brought more shorting to the market, a phenomenon we have seen time and again AFTER a big selloff.
I think this rally could be a big one. Why? Because the sum total of the earnings reports is in -- and it is darned good -- and because we have tech leadership, which I love, and the possibility of oil piercing below $70.
These are all signs of health and signs of a REASON to rally.
The short sellers and the correction callers will get killed today on the random positive action.
I think we will get more than one day of positives this time, as oil seems to want to challenge the high and gold has strength |
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