Expect the Unexpected

This rally's not in the "pullback" script!

Who joined the oils? Holy cow, the industrials and the drug stocks!!! How counterintuitive!

Next thing you know, the Goldman Sachs (GS - commentary - Trade Now)October 190 put sellers will be flooding this market.

Looks like people are believing the "if oil is up, the economy's strong" rap and taking up the companies that had lagged earlier. Who can blame them? That's in synch with the Empire Fed report and the inventories data and new work from ISI, the most responsible research firm out there, that the economy's really starting to hum. In addition, copper, which was rolling over, reversed and went higher intraday, something that can have an impact on those worried that the industrial tempo is slowing.

It is also consistent with the news out of PPG Industries (PPG - commentary - Trade Now), a terrific barometer of industrial America and a stock that turned intraday when people realized that the weaker dollar and lowered costs are going to produce even better numbers down the road. It is consistent with what CSX (CSX - commentary - Trade Now)said the other day, too.

People are also rethinking the bank bear case they embraced at 9 am. If things don't deteriorate further -- which no-one says they are, other than Realtytrac's endless drumbeat of tragedy -- I believe the absence of a number slash from Meredith Whitney, the splash axe of banking, will also hang over the bank bears' heads.

This may be one of those days where we are seeing the major issue -- the voracious desire of funds to get exposure at all costs -- trumping what may be trumped-up expectations of what companies can earn. Trumped up meaning that Goldman was supposed to earn $6 and only made $5.

What else could have driven a turn here? Fears of a blowout number for Google (GOOG - commentary - Trade Now)? For IBM (IBM - commentary - Trade Now)? I think those fears are rational. Worries that GE (GE - commentary - Trade Now) might not be all that bad and the negatives are in the stock? Certainly reasonable.

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At the time of publication, Cramer was long PPG and GS. Jim Cramer is co-founder and chairman 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. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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