Originally posted 2011-07-26 22:05:38
ITW went down 8%, even though their profits were up 20%. Yikes!
I have still not put in any stops, but I may do that later tonight. I will see what Cramer has to say. He was not upset by the averages yesterday. We will see what happens.
Cramer has said a few interesting things as to why stocks might be a good place to be going forward. The main one that I can remember is: Many companies have better balance sheets than governments.
One counter argument is that if there is no debt deal, the commercial paper market could freeze up. I am sure that a lot of companies are in better shape than they were in 2008, but if things completely locks up, then what happens?