Bulls Have the Ball After H-P's Announcement

Nothing excites people more than futures reversal based on a major company in a major industry that has just blown away numbers.

Hewlett-Packard (HPQ - commentary - Cramer's Take) is that company, and it is in the industry that can rally the most easily: tech.

For the moment, any naysaying by Cisco (CSCO - commentary - Cramer's Take) or Dell (DELL - commentary - Cramer's Take) or Intel (INTC - commentary - Cramer's Take) will be completely overlooked by a broad-based oversold rally based on this company. We have seen it before, and we will see it again.

Given the nature of where the market sits, there will be so much bullish commentary and so many people willing to say that, "This is it, we held," that you have to take something, you have to, just to appease the bull gods who have to be in control now, and then we can summon up the courage to get back and find the good ones, or one, or whatever.

A turn in the futures, given the fact that the futures are utterly in control, makes so much sense, particularly because the market is so oversold, that the 500-point rally can become a reality, and a 4% or 5% move can be in the cards, just enough to convert as many people as possible and to make people feel they are far too negative.

Let it run a bit. The bulls are in charge today.

At the time of publication, Cramer was long Hewlett-Packard and Cisco.

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Know what you own: Cramer mentions tech. Other companies on the Nasdaq include eBay (EBAY - commentary - Cramer's Take), Expedia (EXPE - commentary - Cramer's Take) and Google (GOOG - commentary - Cramer's Take).

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