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“Don’t discount Dow 11,000′s role as a much-needed confidence builder in this still-shaky economic environment,” Jim Cramer said on his “Stop Trading!” TV show. “This is the hidden wealth effect and it does matter.”
Cramer mentioned it’s true that there is more risk for market players around the 11,000 area, and there’s the chance the market could fall 3% to 5%, but we’ve got some really positive trends worth noting. Some of those trends are low multiples on high-growth stocks like Apple Inc. (AAPL).
Cramer told viewers he thinks earnings estimates are way too low for many companies, including Ford Motor Company (NYSE:F), International Business Machines Corp. (NYSE:IBM), E.I. du Pont de Nemours & Company (NYSE:DD), Caterpillar Inc. (NYSE:CAT) and United Technologies Corporation (NYSE:UTX). The tailwind of currency will add to those profits, as the euros earned overseas are converted into more dollars at home.
“If earnings are too low, and these companies deliver better-than-expected quarters,” Cramer said, “The market goes higher.”
The Small-Cap Investor: Secrets to Winning Big with Small-Cap Stocks
Lastly, Cramer told viewers he thinks we’re about to get very bullish news about ethanol and the government’s expanded use of the alternative fuel. This should continue to push the agricultural sector higher
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