Cramer: Confusion Reigns in This Market

 | Mar 16, 2017 | 12:13 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


"My existence led by confusion boats, mutiny from stern to bow."

That verse from Bob Dylan's My Back Pages correctly summarizes today's action.

Boatloads of confusion are leading this market, everything from a rally in the scorned bank stocks -- at least scorned yesterday -- to the selloff in biotech led by a couple of impactful downgrades of Biogen (BIIB) . It's a mutiny from stern to bow for the stocks that went up and down yesterday.

Why could there be confusion?

Better to ask why not. I went to a dinner last night with some very smart CFOs and most were worried about the euro spinning out of control as countries leave the union.

Me? I am a buyer of euros and think that selling the dollar for euros makes sense because Germany will have to bend over backward to help expand the growth of an already-starting-to-hum economy.

At the same time, people at this dinner almost uniformly said the 10-year is going higher in yield, 2.8% to 3.2% being the range.

That's a mutiny from yesterday's run and a reminder of how many were on the wrong side of yesterday's trade.

Then there are those who are still playing the infrastructure stocks, still thinking something's on the horizon. I say don't get too excited. It may not be for ages.

All in all, it's a market where many want to undo what's been done. But not enough to send the market down.

Consolidation; at least for now.

Columnist Conversations

View Chart »  View in New Window »
View Chart »  View in New Window »
we like this chart here, it appears ready to move higher. BOUGHT BZUN OCT 35 CALL AT 3.40
Large-cap, high-quality McKesson (MCK) is too cheap now, at $147.51 or so. The stock hit $243.60 more than 2.5...



News Breaks

Powered by


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.