Many Sectors on the Move

There's plenty of momentum out there, even if the broader averages are masking it a bit. Stocks like Juniper (JNPR - commentary - Cramer's Take), Marvell (MRVL - commentary - Cramer's Take) and Apple (AAPL - commentary - Cramer's Take) just won't quit.

Metals are on fire. Bonds have been strong, too.

With so many sectors on the move, the recent rally is almost starting to feel like one big liquefying boost that's taking asset prices higher. Of course, the roots of this strength aren't so cut and dried, but when things move in concert with momentum leading, it raises the specter of a nasty reversal.

That said, trying to guess a top still hasn't made anybody any money around here, and the bulls certainly remain in charge.

The Thanksgiving holiday week is usually rather strong, and even this trader, who normally eschews seasonality arguments, respects that historical pattern.

Let's not fight this trend yet.

At the time of publication, the firm in which Willard is a partner was net long Apple, although positions can change at any time and without notice.

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Cody Willard is the manager of a hedge fund and a contributor to the Financial Times and VON Magazine. He is also a regular guest on CNBC's Kudlow & Company and an adjunct professor at Seton Hall.

He earned a bachelor's degree in economics at the University of New Mexico. Willard appreciates your feedback -- click here to send him an email.