TheStreet’s Jim Cramer says here’s what’s changed in February: oil has been able to bounce, the dollar stopped going straight up and interest rates are going higher. Why do these things matter? Cramer explains that higher interest rates are good for finance as financials are 70% of the S&P. Oil going higher is terrific because oil is 10% of the S&P. And we’re starting to see if we can get the dollar to cool off. So you get these 3 together, Cramer says, and suddenly you have a couple of upside surprises like in Eaton and you get a company like UPS finally bottoming after reporting a good number. When you put all that together, he says, you can say we got too negative. Does it go straight up from here? Absolutely not says Cramer. But when the market comes in, you can do some buying and that’s what’s changed in February.
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