This Tech Move Is Real

This Nasdaq streak is worth worshipping. I can't believe it. Mark Haines of CNBC is right -- perhaps, at last, it is a repudiation of what happened at the beginning of this decade when everyone decided that tech was just poison.

But given the base, I think that the move makes sense. Remember that this move started when the average Nasdaq stock was down 80% from its high. Eighty percent!

When you consider where Cisco (CSCO - commentary - Trade Now) or Intel (INTC - commentary - Trade Now) or Microsoft (MSFT - commentary - Trade Now) traded back then, you know that not only was it overinflated to the nines, now that we have a new product cycle worth crowing about -- smartphones and mobile Internet -- it got underinflated.

Before we even had this new, great secular growth driver, when there was nothing really exciting, but after the fall from dot-com grace, stocks like Cisco and EMC (EMC - commentary - Trade Now) and Intel were much, much higher.

To me, it is time to recognize that we won't get overstretched until we get back to pre-Lehman 2008 highs -- the Goldman Sachs call that preceded this whole move.

Why not?

We were up there on the strength of GDP, not a product cycle. Now we have worldwide GDP coming back -- no dispute there -- a weaker dollar coming and a product cycle.

The group deserves to advance on that litany, even if the 11-day rally seems a little too good to be true.

Remember, though, you may think it is too good to be true, but for those who want to sell stock here, it is true as true can be.

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

Know What You Own: Other Nasdaq stocks on the move today include the PowerShares QQQ (QQQQ - commentary - Trade Now), Yahoo! (YHOO - commentary - Trade Now), Apple (AAPL - commentary - Trade Now) and Seagate (STX - commentary - Trade Now).

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