The Market's Afternoon Amnesia

 | Jan 30, 2012 | 3:59 PM EST  | Comments
  • Comment
  • Print Print
  • Print

Do we forget where Portugal is on the map in the afternoon? Do people forget that Greece isn't resolved yet? Do they just get bored by Europe's troubles and focus on how well Chipotle Mexican Grill (CMG) and Panera Bread (PNRA) are doing? Do we just recall that Nike (NKE) is doing well and that Apple (AAPL) is a horse?

There is a big amnesia factor in this market that comes on in the afternoon. We can't think about why we sold Netflix (NFLX) or Microsoft (MSFT). Why did we sell AT&T (T) and Apache (APA)?

It is insane in a way how the morning bears confront the afternoon bulls, and the bulls have the last word. Sure, if there is a specific downgrade, a la Bank of America (BAC), you don't get much lift, but if a stock has no real news associated with it, then the market defaults to recalling how the company did, and if it did well, then all is forgiven.

So odd. But so sustained as to be a defining trait of 2012.

_______


More from Jim Cramer:

Columnist Conversations

Is this the biotech revolution or the biotech bust? View Small Cap Biotechs Like Never Before: Transparency is...
Lang:
Last year saw the MC NYSE oscillator hit -300 on about five occasions, and each time a massive bounce ensued. ...
If you are in the NYC area, Bob Lang and I will be in town this Monday and Tuesday night. We'd love to grab a ...
There are no signals in IWM....Still watching zone 2 in WYNN for a potential entry. The updated chart is below...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.