The bear cases had momentum. Then the earnings arrived. CNBC's Jim Cramer said strong results from Nvidia and Salesforce shattered two distinct narratives that had been weighing on both stocks.
The case Cramer is making is familiar in structure. When results come in with enough force, they do real work against short positioning. His read, delivered on CNBC, is that the Nvidia and Salesforce prints were precisely that kind of event: strong enough to remove two specific skeptical arguments from the table.
The counterargument is that Cramer's verdict is the beginning of a conversation, not the end of one. A strong print changes the near-term calculus and shifts the cost of staying short. Whether it actually closes the underlying concerns the bears had built around each stock depends on what those concerns were and whether the results addressed them directly. One good quarter does not automatically retire a structural thesis.
On balance, two named bear narratives lost their footing after these prints. The risk is that the market prices the resolution of the debate before it is genuinely settled. The line to watch is whether the arguments Cramer said were shattered reassemble in a different form by the next reporting cycle.