Cramer Last Night

(c) 2009 F. Bruce Abel

Cramer, thank you! He added P&G to his charitable trust portfolio a month ago without any comment. I bought 40 P&G October 55 calls on a "feeling" Tuesday or Wednesday, Wednesday I think. They were down at the end of the day. Bam, yesterday P&G was up two points after an hour's trading. Got out with my biggest trade of the year.

Last night Cramer spent the first 1/3 of his show talking about nothing but P&G and General Mills and the power of "expectations." Apparantly yesterday P&G announced that it would make their earnings after all, and unknown to me that helped cause the pop. Since that hadn't been expected, P&G soared. General Mills apparantly did the same thing (same type of announcement) but did not pop.

It's the difference, Cramer points out, between the favorite son who always got A's getting (yawn) another A and the wayward "C son" getting an A or a B+.

It's the human nature that drives the market and Cramer has it all down. Expectations!