Take Microsoft , Intel and Cisco Systems . All reported fantastic numbers recently, but they couldn’t get a boost until today's rally. The best example of this is Apple . Day after day, Cramer said, we’ve been hearing great things about this company, from the iPad to iTunes selling TV shows for a buck and a 25 percent share in the smartphone market (according to Fortune). Yet, none of this was able to give Apple a lift, until today.
So what makes today different? Cramer told viewers that it has everything to do with the strength in oil, copper, gold and the potential bailout of Greece and Portugal, because these are seen as signs that things are more robust. And investors will begin to buy stocks that do well in a stronger economy - from Caterpillar and BucyrusInternational to semiconductor makers like Cypress Semi and Marvel Technology Group . Thus, he said, we get the linkage – among Apple and oil, gold and copper – where big money simply will not buy unless they get a “permission slip” from these commodities.
Sure, Cramer said, there’s something scary about everything trading in lockstep, with good news simply rolling off stocks. But he thinks eventually the fundamentals will start to matter again. He said to be patient and use the market’s irrationality right now to their advantage.
The bottom line: “This is a crazy, ridiculous period,” Cramer said. “But as long as you keep that in mind…there are still plenty of opportunities out there.”
Cramer’s charitable trust owns Apple, Cisco Systems and Intel.
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