Jim Cramer of CNBC said during his Stop Trading segment that you have to see Jp Morgan ( JPM ) go into the $20's before you can declare a " stock market bottom" for 2009 and declare today's rally more then a bear market bounce. Keep an eye on JPM stock as we trade over the next several weeks.
Keep in mind, Jim Cramer was not bullish over the past week when his friend Doug Kass made bottom statements for the S&P 500. The Doug Kass bottom is actually 693 on the S&P 500 which we broke but are now trading over 710 today on the Citigroup ( C ) news. Although, Cramer notes that the uptick rule would make him bullish.
"The Chinese stimulus plan changes spending habits as they are basically giving you money to spend. Check out FXI stock. if you like China. "
Fertilizer Stock Plays - " I like TNH because of dividend play. "
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