Wednesday’s “fabulous” rally occurred because there was phenomenal news where people least expected it, “Mad Money” host Jim Cramer told viewers.
1. Since U.S. home prices fell for the third straight month, Cramer would expect Whirlpoolto be the “most ideal short in the world.” However, the Benton Harbor, Mich.-based company reported its fourth-quarter net income rose 20 percent, and became “the ultimate long.”
2. Everyone is buzzing about the Facebook IPO . Cramer thinks Facebook, which filed for its initial public offering Wednesday, is the best and most exciting advertisement for the stock market, perhaps ever.
3. Boeing is up despite Pentagon cutbacks and Navistar rallied despite pre-announcing a shortfall.
4. While everyone focused on Amazon.com’s disappointing earnings, Seagate Technology soared 21 percent Wednesday.
5. China’s Purchasing Managers Index, which showed the country’s factor sector expanded slightly in January, shows we’re seeing a soft-landing, Cramer said. A healthy China means traders can start buying Chinese derivative plays. Cummins , Caterpillar, YUM!Brands and Coach all rallied Wednesday.Page 1 of 2 | Next Page