Mad Money

Cramer: Without Metals, Miners & More, Can the Rally Sustain?

No Huddle Offense: Market Leaders

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"I have been hearing lamentations that perhaps this stock market is not that strong because important stocks are being left behind," said Cramer.

That is, over the past 3 months, despite the 10% advance in the S&P and Dow Jones Industrial Average, bellwether stocks such as Freeport, US Steel and Alcoa have, at best, barely budged and in some cases tanked.

In fact entire sectors are getting left behind.

"The steels aren't rallying. Copper's been hideous. The miners are bad news. Aluminum's horrendous," said Cramer.

But the troubles don't stop with metals. "Also, the oils aren't keeping pace And the fertilizers can't get out of their own way," Cramer explained.

Can the rally possibly sustain without metals as well as these other important players?

Jim Cramer thinks it absolutely can. In fact, he's almost relieved to see these stocks lag the rally.


The Mad Money host said it's important to look back at the stocks that led the market to its last all-time high in 2007. It was the sectors mentioned above.

Cramer said they led the market because they were all considered beneficiaries of China's explosive growth.

"These stocks relied on the kindness and steroids of the Chinese government," Cramer explained. The mere fact that they are not leading now – suggests to Cramer that the rally is healthy and sustainable.

That is, it's not being entirely generated by China.

Darren Rogers | Flickr | Getty Images

It says to Cramer, instead the market is rallying on optimism about the US recovery and the potential of American capitalism.

To Cramer, it confirms his belief that big picture themes such as the renaissance in housing, the new-found strength in , the infrastructure build in the wake of Hurricane Sandy and even a robust US auto industry are all driving the rally.

And that's healthy.

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Of course it would be nice for the laggards to participate but pros often say you have to take what the market gives you.

And the market is currently giving you strength in financials, consumer discretionary and industrials.

"I'd rather take what we have going now. It's a lot healthier, and certainly a lot safer and potentially much longer lasting," Cramer said.

Call Cramer: 1-800-743-CNBC

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