How Higher Oil Will Goad the Market Higher

Poorly set up. That's all I can say about how the bears are positioned right now.

We have Nike (NKE - commentary - Cramer's Take) going higher, Texas Instruments (TXN - commentary - Cramer's Take) doing a big buyback, the dollar going lower -- and they are trying to convince us it is bad.

And we have oil going higher and oil is market leadership! Why is it market leadership? Because it is the key to a bunch of important bull markets:

• ag, which is the new oil service;
• aerospace, because we need aircraft that use less oil;
• machinery, because that's what you need in order to build and in order to get alternate minerals and fuel;
• infrastructure, because we need fresh, new power plants that use less oil and more alternatives and new refineries like the one announced Thursday.

Don't forget that with oil at $80, the First Solars (FSLR - commentary - Cramer's Take) and the MEMCs (WFR - commentary - Cramer's Take) get a nice boost, too, as do the Core Labs (CLB - commentary - Cramer's Take) and the FMC Techs (FTI - commentary - Cramer's Take) because we need to get every last drop out of the ground. Don't forget natural gas and deep water drilling.

In a true bull market like the one that we have now that the Fed has been cutting, we are going to see very, very few steep declines and many shocking advances on the way to my Dow 14,500 target.

And it is on the backs of oil and of tech and of yield-producing stocks that are cash substitutes.

At the time of publication, Cramer was long Nike.

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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. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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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