Jim Cramer

Just a few days after we got a very disappointing Q3 GDP print of only 1.5% annualized growth, of which healthcare spending accounted for over a third, the Atlanta Fed's GDPNow forecast, which has traditionally been the most accurate indicator of real-time GDP swings, was just slashed by nearly a quarter from the 2.5% as originally reported on October 30, to just 1.9%.

The Fed's confidence trick this week was, once again, the Keyser Soze gambit (via Beaudelaire)-  "convincing the world of Yellen's hawkishness, when no such character trait exists." However, unlike the movies, stocks and FX markets have already seen through the con, leaving Fed Funds futures alone to believe the hype. As we noted previously, "The Fed Can't Raise Rates, But Must Pretend It Will," repeating its pre-meeting hawkishness to dovishness swing time and again in a "Groundhog Day" meets "Waiting For Godot"-like manner. Time is running out Janet, tick tock...

Yesterday's tumble on the read-through from component-maker Dialog Semi added to fears, noted by Berenberg Bank the previous week, that iPhone sales momentum was not as rosy as Tim Cook told Jim Cramer after all, is not seeing many BTFDers this morning. As we previously noted, the China channel checks painted an ugly picture, and now JPMorgan (while maintaining their 'overweight' rating on AAPL) is warning that it expects "cautious guidance" amid a weakening global macro picture.

Curious how Jim Cramer's stock picks perform? One person decided to test them out in an audited environment. Here are the results...

Since the mid-July peak, when Jim Cramer warned the market's "last shred of hope was the freight index holding up," The Baltic Dry Index has been in free fall (at a time with very positive technicals). In fact, today's drop to 809 is the lowest in over 3 months and the lowest for this time of year since 1986!!

"Suddenly, good news is busting out all over, and we can't not talk about them. I have been bearish for a while now, but if the facts change, I have to change with them," the "Mad Money" host said.

Stocks have taken out key support at a time when the Fed's hands are tied. 

Either, a) BLS payrolls data is entirely 'made-up', or b) US jobs are being created in some other regions than the six major Fed surveys. Either way, this chart will strike fear into the heart of Janet Yellen as she 'hopes" for some cover for her rate-hike... before the whole house of cards collapses...

For the first time since 2009, all six major Fed regional activity surveys are in contraction territory... time to hike rates?

It takes ignorance on an almost unbelievable level to try to claim that “nothing is happening” in the financial world right now.

Over the past few years three things have 'worked' - Buybacks, Biotechs, and Buying IPOs. Those days are now over...