Additionally, Alcoa will be splitting itself into two companies: one that is a commodity aluminum producer, and another that specializes in the proprietary use of aluminum in trucks, autos and aerospace.
All of a sudden that hatred melted away on Thursday when portfolio managers found themselves too negative on the deep cyclicals. Alcoa and its breakup story fit the bill perfectly, which is why Cramer considers it a buy.
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Why the sudden love for commodities?
Cramer traced it all back to the relationship between commodities and the dollar. The dollar finally weakened against the euro, and that encouraged managers to buy the one thing that always goes up when the dollar goes down — commodities.
"It makes sense because these commodities are priced in dollars, and I have plenty of charts and graphs that show this relationship is both real and investible," Cramer said.
Cramer reminded investors to keep in mind that this is a market with limited participation. That means in order to buy these cyclical stocks, managers will need to sell other stocks. They are now selling the retailers and drug stocks.
"I say be careful. These rotational moves are only for the most nimble, meaning for those who truly believe that they can outrun the bears," Cramer said.