CRAMER TIME

Jimmy is excited about natural gas and CHK believing in the hurricane trade. I think they can predict hurricanes 3 months from now as well as they can predict the weather three months from now. Also note that the CHK guys were buying the CHK stock when it was 25% higher. They aren't all that smart contrary to popular belief.


No doubt Maria is a bit disappointed today as the markets are higher, but the SPY hit the high of its day around 11:00 this morning eastern time and the Oil stocks (OIH) are hitting their highs as I type. I just wonder if the oil stock traders are smarter than the administration and expect the Iran issue to heat up once the Iranian leader (guy with the long name) rejects the Condi plan.

The QQQQ has gone straight down after making its highs this morning and the hated IWM has basically flatlined at +1% but hit its best level before lunch.

The market internals continue to show about 1,500 more winners than losers.

Bottom line, it has been a volatile day with the FED minutes generating much of the action; my take is that we have moved into a new trading range where the SPY trades between 125 and 129 and I am not sure that is a bad thing for now. LOOKING FOR STABILITY.