On a Strange Day, Stick to Tech and Drugs

Here's a tough day to make sense of.

St. Joe (JOE - commentary - Cramer's Take), which told everyone in its last earnings conference call how much it loves the homebuilding business, pulled out of the home business -- and the stock is going higher. Most homebuilding stocks are disappointing, yet Sherwin-Williams (SHW - commentary - Cramer's Take), American Standard (ASD - commentary - Cramer's Take), Fortune Brands (FO - commentary - Cramer's Take) and Masco (MAS - commentary - Cramer's Take) are all making nice moves up.

Oil service is back to where it was -- again -- when oil was in the $50s. Bristol-Myers (BMY - commentary - Cramer's Take) is now up above where it was when we still thought it could block Apotex's Plavix. And Kohl's (KSS - commentary - Cramer's Take) is the best-acting retailer even as it lacks any sort of pizzazz or gusto.

Some days just don't make sense.

This one is one of them.

But two themes are working, and they've been a major chord of this market: tech and drugs.

You get a midquarter read from Texas Instruments (TXN - commentary - Cramer's Take) on Monday, and while I don't even think it will be that good, I don't think it will dent the tech group.

The drugs? All systems go for every company, bar none. I still think that Schering-Plough (SGP - commentary - Cramer's Take), Merck (MRK - commentary - Cramer's Take) and Pfizer (PFE - commentary - Cramer's Take) represent the best opportunities.

At the time of publication, Cramer was long Bristol-Myers Squibb and Schering-Plough.

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Jim Cramer is a director and co-founder 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. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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