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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. Last week he blogged on:

  • the market's ability to rise in spite of disappointing earnings from blue-chips; and
  • why you should avoid Avon and Herbalife.

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


What's Truly Amazing About this Market

Posted at 9:35 p.m. EDT on Friday, April 26

Now, think about it.

Think about who has disappointed this quarter. First, obviously, there is Apple , with a quarter that is now regarded as the benchmark of bad quarters with the most downgrades and price target cuts of any this year.

Apple used to be the largest-market-capitalization company there is, before passing the torch back to ExxonMobil , which, yes, reported the worst quarter so far of any oil company.


Then there is IBM , the bellwether tech company of the Dow Jones with a hugely disappointing report that drove the stock down 22%, or 10% in a couple of days' time.

Or how about Amazon.com ? Is there a more important retailer save for Wal-Mart out there? I don't think so, and yet its report struck people as sorely wanting and the stock got pummeled for almost $20.

Or 3M , one of the cornerstone industrials out there, which reported a heavily disliked quarter and then gave you a forecast cut that sent shudders down peoples' spines; spines of those who are used to this company's consistent earnings growth. It got dinged again today after being clipped hard on Friday's report.

Then there's AT&T , the largest phone company, which gave you a quarter that sent the stock down the hardest I can ever recall it getting hit in one day. Just a nasty decline for the $200 billion behemoth and the commentary made you feel that there's no real growth there at all.


But it wasn't as horrid as the quarter Procter & Gamble , the one that dropped the stock to $76 from $82 before it stabilized today. Procter, at $200 billion, is the largest consumer-products company out there and it was just a nasty report.

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