Cramer's Take on Top 10 Searched Stocks

In a RealMoney blog post Monday evening -- Hail to the Homebuilders -- Cramer wrote:

"Sure the banks are down. But you know what is more important? The homebuilders are up. These are the lead indicators, and in case you have been on Mars, they bottomed many months ago.

Now every pullback has to be bought -- take a look for instance at how buyable the Centex pullback was. Every time the group comes in, buyers seek them out.

Take this morning. I am sitting here reading the awful Hovnanian number, every bit as bad as the Centex numbers, and all I can think of is, 'How much will this dog go up on these crummy numbers?'

The answer is: a ton. It is incredible because there is nothing here to grasp. Sure the cash flow is much better than I thought. But does anyone think these companies are going to prosper? The cash flow was up because they cut prices big and dumped homes. That's where the cash flow came from.

Soon, at this pace, these stocks will no longer be reflecting bankruptcy; they will be reflecting earnings growth even though the cash flow comes from earnings shrinkage!

The whole thing is a little Alice in Wonderland like. You can't get this group to down. It just won't go down.

In the end, I don't care as much about the homebuilders themselves as I care about the impact on the banks. HOV showed, like CTX, that if you cut prices big, you sell homes. That's a great lesson for the banks. They ought to take it!"

For more opinions on Tuesday's top searched stocks, including Applied Materials AMAT, check out Cramer's Take on Top 10 Most-Searched Stocks From May 6.