TheStreet's Action Alerts PLUS Co-Portfolio Manager Jim Cramer says shares of UPS are not down more because the earnings estimate miss is a one-time event. The short holiday shopping season and a later big shipping day will not fool UPS again and this is a "sign of the times" since shoppers are moving away from malls and doing more of their shopping online. UPS didn't recognize how strong their business is, which Cramer says is a "high-quality problem." Cramer says UPS is a buy.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.