Recession Stocks Still Clean Up Nicely

When I talked with Bill Gross yesterday about whether there is a bull market somewhere -- he said there isn't -- I wonder whether you can really argue that point if oil falls so hard and natural gas plummets to $5-$6. Bill is the best bond buyer in the world.

The market is wondering, too. Every recession stock I deal with, everyone, everyone who put price increases through, every food and soft-goods stock, everyone, is up. Is that something worth missing? Isn't that worth looking for? Can't we just state that in this market there has been lots of money made in Procter & Gamble (PG - commentary - Cramer's Take) and Pepsi (PEP - commentary - Cramer's Take) and Clorox (CLX - commentary - Cramer's Take) and the like?

Do you know that there have been many, many periods when only the stuff that you can eat, smoke, drink and wash with went up?

Do you know there were years and years where you couldn't buy anything commodity? I mean years. Years when everything from the ground had to be shorted every time it lifted.

But no one seems to remember that, and people think the gains in Clorox somehow don't count, even as the gains in Mosaic (MOS - commentary - Cramer's Take) and Agrium (AGU - commentary - Cramer's Take) did.

The happier-days-are-here-again stocks because of lower oil -- Lowe's (LOW - commentary - Cramer's Take), UPS (UPS - commentary - Cramer's Take), Costco (COST - commentary - Cramer's Take), Wal-Mart (WMT - commentary - Cramer's Take) -- ain't so bad either.

These are legit stocks, including Anheuser-Busch (BUD - commentary - Cramer's Take) and Wrigley (WWY - commentary - Cramer's Take), that I highlighted endlessly on my show, and I don't mind being on the defensive. Let me give you some levels that I have said would hold : The BKX was at 46.52, it is at 65; the HGX was at 93, it is now at 123. The S&P 500 -- my most vulnerable -- was at 1200, it is at 1224; and the Dow Jones Industrial Average was at 10,731, and it is now at 11,098.

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