CNBC’s Jim Cramer says a Scott Brown win in Massachusetts will mean a HUGE stock market rally.
Via Red Mass Group:
(first two minutes)
NewsBusters has the transcript:
JIM CRAMER, MAD MONEY HOST: We know it’s earnings season. You can no more avoid it than you could avoid getting your report card or worse – your parents getting your report card. You saw that today when people sold the market on allegedly weak earnings from Intel and JP Morgan, emphasis on allegedly. The Dow getting hurt bad, down a hundred big ones. S&P giving back more than a percent. But that doesn’t mean that the most important factor in next week’s game plan is an earnings report. Far from it. Come with me. The number you need to watch is the number that Scott Brown racks up against Martha Coakley in this amazing Massachusetts Senate race. I say amazing ’cause this was supposed to be a walkover. I mean, even a few weeks ago it was a lock for Democrat Coakley. But now everything’s up in the air, and a Brown win would be devastating for the president’s agenda. Let’s put Brown, okay, and I don’t mean UPS which I happen to own for my charitable trust. Particularly on healthcare reform, because Republican Brown has said he will definitely vote against the plan.
Brown in the Senate? That wrecks the 60-vote supermajority the Democrats have been counting on. It could spell the end for this almost year-long nightmare of a piece of healthcare legislation.
What does a Brown election mean larger than this? Well, first you’re going to get a knee-jerk rally in all the so-called penalized stocks — the HMOs, the drugs, the medical device-makers. I call it “knee-jerk,” though, because these stocks have been on fire for months. Look at Cramer fave WellPoint, or United Health. 52 week high. 52 week high. Merck, 52 week high. It’s been clear as a bell that the healthcare reform wasn’t going to affect most healthcare stocks. That’s versus what we thought last year.
More important, though, I think investors who are nervous about the dictatorship of the Pelosi proletariat will feel at ease, and we could have a gigantic rally off a Coakley loss and a Brown win.
It will be a signal that a more pro-business, less pro-labor government could be in front of us. Hey, would you say it is more China like perhaps? No, we can never be as capitalist as the Communist Chinese. But how about a little bit less like the old Soviet Union? Yeah, that would be a bit more like it. Pelosi politburo emasculation! Everything from the banks, which are usually in the Democrats’ penalty box, or the oils which are despised by this administration for being carbon, could be propelled dramatically higher all of this Tuesday night.
Related… The Cook Political Report just announced that Scott Brown is now favored in the race.
January 17th, 2010 | 1:44 pm | #1
Supposedly PPP is releasing a poll later showing the race too close to call. But Charlie Cook has moved the race in favor of Scott Brown.
Is there any other recent polling information?
January 17th, 2010 | 1:46 pm | #2
who cares about wall street? people i know who work there dont even have their money vested in that illegal casino.
January 17th, 2010 | 1:49 pm | #3
Harry Reid must believe that Brown will win because he is now threatening again to go for reconciliation with 51 votes. As Dan Perrin on Red State said yesterday — this is a bluff because there are so many ways that the Republicans can filibuster should they do this. So in effect they are saying this to depress the vote.
January 17th, 2010 | 1:50 pm | #4
I will go with Charlie Cook. He is a very respected pollster.
January 17th, 2010 | 1:50 pm | #5
Legal casino.
Brown will probably win – but will he win enough to overcome 1) the dead vote, 2) democratic challenges, and 3) Reid’s refusal to seat him?
January 17th, 2010 | 1:55 pm | #6
http://www.realclearpolitics.com/epolls/latestpolls/2010.html
There are a couple of polls on this site. Both favoring Scott Brown.
January 17th, 2010 | 2:02 pm | #7
I wouldn’t be surprised if Reid refuses – or severely stalls – to seat Brown, assuming Brown was the victor. And that would send the entire State of Massachusetts into one gigantic uproar.
A State that has been solidly “D” for so many, many years would turn on Reid with a vengeance.
All conjecture, at this point, I realize, but I wouldn’t put anything past Reid, based on his tactics of the past couple of months. He’s shown that “nothing’s illegal or improper” when it comes to secluded, backroom politics. This would be just another example.
January 17th, 2010 | 2:05 pm | #8
i think we are about to witness something unprecedented next week and i say this with a bit of fear.
January 17th, 2010 | 2:12 pm | #9
Thnx Sandy
January 17th, 2010 | 2:21 pm | #10
It’s Still a Three-Way Race but I believe Scott will win. And with his Win …our Country can survive a little longer. Maybe even make a huge comeback in 2010. The Bookies In London (same ones who had bets on “who shot J.R.”) are giving odds in favor of Scott’s win. Points Cramer made on the Video are valid. Yep!! When the business world realizes complete and total Socialism/Communism takes a ‘hit’ the Market will respond in a positive manner..YEAH!! Go Scott!!
January 17th, 2010 | 2:23 pm | #11
My comment disappeared!! Anyway I think Scott will win. And it’s a 3 way Race..remember?? Go Scott Go!!!
January 17th, 2010 | 2:25 pm | #12
Kathryn Jean Lopez has a video up of pundits on CNN talking bout the race. One says top Obama officials have told senior Democrats that Coakley is going to lose.
Link at Hot Air.
January 17th, 2010 | 2:25 pm | #13
Cramer is a hard core liberal; but he tells it like it is. He has got in hot water with the Obamanistas on other stuff, so I guess he’s in trouble again for suggesting this.
January 17th, 2010 | 2:32 pm | #14
They just commented on Fox news that the place where they are holding Coakley’s rally holds 3000 people and they may have between 2000 and 2500 people attending. WHAT? How can that be? Don’t they know that The One is on his way? The place should be overflowing, down the street, around the corner in to the next town!
They also mentioned that people are putting up banners along the route that Obama is taking for Brown. Gotta love it, you just gotta love it!
January 17th, 2010 | 2:36 pm | #15
I just saw Vicki Kennedy on CNN campaigning for Coakley and she was saying all kinds of terrrible medical situations would happen if you vote for Brown. This is getting VERY ugly.
–
January 17th, 2010 | 2:49 pm | #16
TheScribbler
January 17th, 2010 | 2:32 pm | #13
now now stop being mean
“There are times when the words that are spoken about me hurt. There are times when the barbs sting. There are times when it feels like all..”
http://news.yahoo.com/s/afp/20100117/ts_alt_afp/uspoliticsreligionobama
http://www.youtube.com/watch?v=HcBaSP31Be8
January 17th, 2010 | 2:54 pm | #17
If he didn’t hate Americans so much, he might have expected this reaction from us. And he ain’t seen nothin’ yet.
Go Scott. Point of the spear.
January 17th, 2010 | 2:54 pm | #18
Moonbat killer says:
“i think we are about to witness something unprecedented next week and i say this with a bit of fear.”
You are so right. Nothing says, “Danger!danger!” more than a cornered Liberal Democrat…
January 17th, 2010 | 3:05 pm | #19
I’m sure if there is a huge stock rally, Obama will find some way to take credit for it.
And conversely, if it dives, it will be Bush’s fault. ;-)
January 17th, 2010 | 3:50 pm | #20
I could act like I did’nt help cause this mess as well. http://polizeros.com/2008/10/06/jim-cramer-endorses-obama/
January 17th, 2010 | 4:20 pm | #21
If Harry Reid refuses to seat Scott he would still not have a 60 seat majority. Kirk ceases to be a senator Tuesday night. Unless the dems break their own rules in the senate. They have to hesitate, what goes around comes around.
January 17th, 2010 | 8:21 pm | #22
When Dingy Harry refuses to seat Brown promptly a tsunami of national indignation will wellup and wash away the democrats. The democorrupts will pay with their political deaths in the fall elections.
For the Democraps and B+ Odumber there is only one possible out other than electoral annihilation in November and that is to create a crisis and play the martial law game with no elections. If the Marxist democorrupts play the martial law number there will be real blowback from the public. Obozo must either triangulate as did Billary & Hilliam in 1994 or face his own and his party’s destruction.
Rush Limbaugh has been saying for more than a year that the democrat Party is imploding and that B. Hussein and his far left agenda will be the destruction of the Democrat Party.
Former Clinton right hand man and long time democrat Dick Morris too has been warning Chrmn. Zero that America is a right of center nation that can not be governed from the far left.
Woodrow Wilson tried to take the nation to the far left after his second election victory in 1916 and failed as did Franklin Roosevelt when he tried to tamper with the Supreme Court in 1937. Obozo unlike Roosevelt and Clinton in 1994 will refuse to triangulate to the right and will surely self-immolate no matter what route to the left he tries to take and Deadfish, Zeke Mengele, Comrade Pelosi, Dr. Zeke Mengele Emmanuel, Axelrat, and Valarie Jarret and the entire lockstep tone deaf dimocrat party will go down in flames with the Magic light-skinned no Negro Dialect marxist striking the match.
January 17th, 2010 | 9:37 pm | #23
Spider-Man: You are certianly right … Cramer is a hardcore liberal who was delighted when Obama got elected. He’s completely turned, because he is also pro-business. If you lose Cramer, you’ve lost a huge swath of liberal America … the part that is socially liberal, but still common sense enough to oppose redistribution and socialism.
January 17th, 2010 | 9:41 pm | #24
I agree with Cramer and I hope my broker does too, but his credibility is shot in general after all his antics.
January 18th, 2010 | 8:16 am | #25
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