Tuesday, July 26, 2011

Cramer on $SPX, $NFLX, $TXN.

Maybe the politicians figured they didn't do enough damage when they failed to reach an agreement over the weekend. So they came back with another dose of pain this afternoon and robbed the averages of a fine close. Still, I remain convinced that the gloom in Washington is not equal to the boom in corporate earnings.
Sure, it looks like Netflix ($NFLX) is light. And I get that. More on it later. I know that everything good in profits gets filtered through the horrible, ugly prism of Washington, including what look to be good numbers from Texas Instruments ($TXN).
But I urge you to realize that these politicians now seem to want the market down. They are playing market. They want to say to each other's side, "You are ruining portfolios."
And both parties are doing a darned good job at it.

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