Jim Cramer's Best Blogs

NEW YORK (TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

• what has happened in Europe and what hasn't;
• how to trade Nike in the wake of its bad news; and
• why low-end retailers are cashing in.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.

The Market Rallies as Europe Plays for Time

Posted at 12:19 p.m. EDT on Friday, June 29

No, it's not fixed. No, Europe's not better. It's just not worse. And it's united. United against Angela Merkel, who looks, more and more, to be cornered by all the other nations in Europe. She's isolated, and you can now see where her former allies could come to her and say they want Germany out of the euro.

In other words, you could see a situation where Merkel is surrounded by enemies that do have the power to compel her "to help or get out and have your own currency and see what happens."

It's a shifting dynamic, one that changed dramatically after the French election, and it makes the all-powerful Germany look a lot less powerful than we thought. She no longer has the horses to compel her will on the others.

Now, here's the real issue: Nothing has changed. Nothing is better. The situation isn't resolved at all. No new cash. No new discipline. No crunching of debt. No real growth initiatives.

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It's just that, once again, something that was supposed to be the end of the road turned out to not be an end of the road. That forces U.S. shorts to cover and forces buyers to make up the performance they don't have. In an earnings report vacuum, people are willing to wait until Monday to see if the Chinese cut rates on Sunday night before they part with their stocks.