Cramer: In This Relay-Race Market, Who Gets Baton Next?

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

  • 8 Stocks for Cancer's Cure
  • 5 Stocks to Play the Next Bull Run

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 and Microsoft leading the charge.

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

Last week, Warren Buffett’s purchase of Burlington Northern Santa Fe catalyzed the transports, setting off moves in Union Pacific , CSX and others. On Tuesday, defensive stocks that work during a recession registered noteworthy gains, as Altria , Coca-Cola and Con Ed 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

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

Contact Mad Money

  • Showtimes

    Monday - Friday 6p ET
    Saturday 8a, 1p, 7p SYD
    Sunday 12a, 1a, 8a, 7p SYD
    New Zealand
    Saturday 10a, 3p, 9p NZ
    Sunday 2a, 3a, 10a, 9p NZ
  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.

Mad Money Moments

Cramer's New Book