Ten Reasons to Be Optimistic

Jim Cramer is the enigmatic on-air and online investment "guru" whose specific advice I generally avoid but whose ability to see from a distance trends in the economy is often quite impressive.

He recently he spoke of 10 reasons why we can afford to be optimistic. Here they are:

1. The euro is higher against the dollar. European debt is now off the table and fears of a high dollar are not abating.

2. Back-to-school sales beat estimates.

3. Unemployment is "on a gentle slope downward."

4. The commercial property market is showing an "unexpected firmness."

5. Copper, oil and the Baltic Dry Index are at high levels.

6. Auto sales have been strong.

7. Mortgage applications have been up 9% this week.

8. Obama has a better relationship with the business world.

9. Big-Cap tech, like Cisco (CSCO), Intel (INTC), Oracle (ORCL), IBM (IBM) are showing unexpected strength.

10. The S&P 500 chart is in a reverse head and shoulders pattern, signaling a bottom.

#5 is the most interesting and appealing to me. Copper and the Baltic Dry Index, especially.

I am pessimistic about the U.S. economy, but I am bottom-up bullish on the stock markets. There is always a chance to get in early and make long-term money, even in bad markets. If Jim Cramer thinks the U.S. market is looking like a good bet, so much the better.