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Current DateTime: 11:05:34 24 Nov 2009
LinksList Documentid: 33424199

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Cramer: In This Relay-Race Market, Who Gets Baton Next?
Published: Tuesday, 10 Nov 2009 | 7:15 PM ET
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By: Tom Brennan
Web Editor, Mad Money

“This is indeed the ultimate stealth rolling bull market,” Cramer said Tuesday.

While most stock runs are a product of many sectors surging at the same time, the market right now is being carried by just one sector at a time. These rolling sets of bull markets, Cramer said, “mask the true power of this entire move.”

This started back in the spring, when many bank stocks doubled and tripled their way into the summer and then took off again in July. Recently, the semiconductors and retail took the lead. Then a few weeks ago, the tech sector made its move, with Apple [AAPL  Loading...      ()   ] and Microsoft [MSFT  Loading...      ()   ] leading the charge.

Oil and gas, too, has played a part. The natural gas names like XTO Energy [XTO  Loading...      ()   ] and Apache [APA  Loading...      ()   ] jumped 15% to 20% and then handed the baton to the oils. Now Occidental Petroleum [OXY  Loading...      ()   ] is up almost 10 points, while BP [BP  Loading...      ()   ] ramped 10%.

Last week, Warren Buffett’s purchase of Burlington Northern Santa Fe [BNI  Loading...      ()   ] catalyzed the transports, setting off moves in Union Pacific [UNP  Loading...      ()   ], CSX [CSX  Loading...      ()   ] and others. On Tuesday, defensive stocks that work during a recession registered noteworthy gains, as Altria [MO  Loading...      ()   ], Coca-Cola [KO  Loading...      ()   ] and Con Ed [ED  Loading...      ()   ] pushed higher. A relay race of sorts is under way, and for many investors the pieces aren’t forming a whole picture. But make no mistake, Cramer said, this is a bull market.

So what happens when we run out of sectors? Cramer predicted we’d cycle back to the most rested groups. First the banks and tech, then oil and so on.

“It’s a relentless run higher,” Cramer said.

Cramer’s charitable trust owns Altria and BP.

Call Cramer: 1-800-743-CNBC

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Current DateTime: 05:23:04 24 Nov 2009
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Current DateTime: 10:17:33 24 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 07:49:43 24 Nov 2009
LinksList Documentid: 29779198
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