Move Takes Many by Surprise

Now that the 10-year is below 5%, the CDW (CDWC - commentary - Cramer's Take) deal just got its financing -- one that I was truly concerned about -- and Wendy's (WEN - commentary - Cramer's Take) caught a buyer, something I thought could turn out to be a Trump (TRMP - commentary - Cramer's Take), you can see why the market could really be putting a move on.

Oh, and we got still one more piece of consolidation news in mining that makes Freeport-McMoRan (FCX - commentary - Cramer's Take) even more valuable.

This move is taking a lot of people by surprise. The markets are a little thin for the holiday, but I believe soon we'll be wondering, given the weak housing and auto markets, whether the 10-year is headed to 4.75%. (We'll also soon be wondering whether the whole move was really orchestrated by the biggest bond buyer, Bill Gross, who, of course, is not getting an ounce of heat from anyone. I think it's because no one wants to alienate him as a guest, not because he is a huge advertiser.)

In fact, there is so much good news out there that I'm beginning to wonder if the Bear (BSC - commentary - Cramer's Take) buyout isn't something that will almost immediately, given the bond move, produce something that could raise numbers substantially. Once the hedge fund got funded, you have to believe, if "marked" correctly (meaning if Bear was able to come in and take over a lot of the share of the funds), you can raise numbers dramatically for the Bear. What a coup! And certainly not talked about.

Finally, we begin to get our own momentum to this market. We are coming into the best time to buy tech -- and that's already started now that we are in July. The buyers want to get in ahead of the earnings reports and then buy more after.

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