Power Tools

How hated is Black & Decker (BDK - commentary - Cramer's Take)? Oops, I mean how hated was it? There must be something going on right now that is meant only to make the shorts go nuts, and tonight's guide-up for BDK is Exhibit A.

That this company should, in this environment, report a great number, one that is substantially better than expected, is outrageously bullish. Not just for BDK but for the whole cohort, including Stanley Works (SWK - commentary - Cramer's Take), Danaher (DHR - commentary - Cramer's Take) and my favorite, Sears (SHLD - commentary - Cramer's Take), which has had problems selling Craftsman tools.

Lowe's (LOW - commentary - Cramer's Take) has been trying to tell anyone who will listen that sales remain very strong in its hardware, but everyone has just figured that can't be true. The shorting in BDK has been nonstop. That's why people paying up 5 makes sense.

There's way too much option interest and shorting betting on a preannouncement to the downside to think that it isn't a decent idea to buy tonight, even up a half-dozen points.

My advice: Go buy some Sears, as this division, if it turns, could be worth 20 to 30 points to Sears, which has been hurt by it, even as apparel has turned.

And let's just take a moment to point out that today we heard good things about subprime loans (Fremont (FMT - commentary - Cramer's Take)), about credit cards (HSBC (HBC - commentary - Cramer's Take)), about truck engines (Eaton (ETN - commentary - Cramer's Take)), about wiring and plumbing (Grainger (GWW - commentary - Cramer's Take)) and now about hand tools with BDK!! Bull market bonanza!

Random musings: Saved by Stockpickr on tonight's show as someone asked me about Cree (CREE - commentary - Cramer's Take)), which I had not thought of as an alternative energy play until I read about it in Stockpickr this weekend.

At the time of publication, Cramer was long Sears Holdings.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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