Cramer Bullish About The US (JPM. INTC, CSX, CAT, BA, WLT, F, TM)

Jim Cramer said during this week’s Stop Trading show that he was very bullish after the robust earnings reports from JPMorgan Chase (NYSE: JPM), Intel (NASDAQ: INTC) and CSX (NYSE: CSX). These are companies that are the biggest in their industry and they seem to be saying, “We have too much business,” Cramer said. “We have to go higher.”

Some investors may be feeling that they have missed the opportunity, especially in view of the Dow’s rally over the past year from 6,500 to more than 11,000. However, Jim does not agree, given that INTC is trading at only 12 times earnings, while JPM has risen just a few points from its previous secondary offering. Some investors believe that stocks are overpriced, especially stocks like Caterpillar (NYSE: CAT) and Boeing (NYSE: BA). However, “that’s exactly how stocks are supposed to trade at the trough.”

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Cramer said that the US has a “very good course of growth.” Jim defends the Fed chief’s continued emphasis on keeping interest rates low until the US economy recovers completely. He added that inflation is not a problem as yet.

Cramer pointed out that CSX’s bullish comments about metallurgical coal bodes well for Walter Energy (NYSE: WLT) and that Ford (NYSE: F) stands to benefit from Toyota’s (NYSE: TM) Lexus problems.