This Market Can Still React

Now that's more like it. All day we have heard that nobody cares about the good news. But now the averages are showing otherwise.

We have some terrific action in speculative stocks that deserve to be speculated on. The rally in Advanced Micro Devices (AMD - commentary - Trade Now) makes a ton of sense because there is a big cyclical move in tech, as I pointed out in my series that I hope you will comment on.

We also have some sort of old-days pin action:: witness the runs in General Mills (GIF - commentary - Trade Now) and H.J. Heinz (HNZ - commentary - Trade Now) as consolidation is in the air.

Then, out of nowhere, Schlumberger's (SLB - commentary - Trade Now) Andrew Gould comes out at and says that he expects some more big deals in oil services. That means Baker Hughes (BHI - commentary - Trade Now) -- BJ Services may not be such an outlier.

And, alas, the trannies have at last turned green.

I still believe that this market has participants who want things lower. They can make it happen. They can blitz it down near the bell.

But, once again, those who said that the good news is being met with ennui don't realize that when a market goes up day after day after day and there are no serious pullbacks, that isn't ennui.

At the time of publication, Cramer had no positions in stocks mentioned.

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