Market Pundits Missing Some Great Runs

These break-outs continue to be ignored by the technicians and the fundamentalists. Can you believe, for example, that no one has commented on Coca-Cola (KO - commentary - Trade Now) in its amazing run from the mid-$40s. Sure, the dollar is helping, but the move is remarkable considering that there's been no new news. Just total bull market action.

Or how about how McDonald's (MCD - commentary - Trade Now) broke out this week, in a massive move that no one saw coming?

Or how about the Joy Global (JOYG - commentary - Trade Now)? Magnificent breakout. Same with Bucyrus (BUCY - commentary - Trade Now). How about the Union Pacific (UNP - commentary - Trade Now)? Of course, there's Apple (AAPL - commentary - Trade Now) and Research In Motion (RIMM - commentary - Trade Now) -- breathers today, but no breather in Google (GOOG - commentary - Trade Now).

Of course, all we hear about is the commodities run, and I am not ignoring that. The commodities should never have been as crushed as low as they were because of hedge funds gone wild with redemptions, and now they are plowing right back in them. We know what's happening there; we have seen this movie before. The commodities simply can't take the hedge-fund demand. The miners can't produce the materials as quickly as the hedge funds buy the instruments that drive them. There's no additional demand up here, just like there wasn't at $140 in oil. Unless the government wakes up and changes the margin rules to eliminate this stuff.

To me, though, the commodities prices aren't real, even as they will hurt real companies. There's nowhere near the actual demand for these commodities to generate the best rally in 34 years. I also don't buy the dollar-commodity explanation. I think it's just another endless short squeeze, not a synchronized global recovery and coming boom. .

But the breakouts? I think they're for real and the stocks are going higher.

Random musings: I hope the cynical exchanges and the SEC feel good about the rip-off of the consumer by the stock of General Motors (GM - commentary - Trade Now). Shameful that they didn't stop trading that thing.

At the time of publication, Cramer had no positions in stocks mentioned.

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