NEW YORK ( TheStreet) -- A wealth of healthy buying in recent weeks led a wide variety of blue chips to hit fresh 52-week highs on Friday, including Dow Jones industrial average components Kraft Foods (KFT), Caterpillar (CAT - Get Report) and Du Pont (DD).
Jim Cramer told the viewers of his "Mad Money" TV show Wednesday the 52-week high list tells us everything we need to know about the market -- though it's not the number of companies hitting 52-week highs that's important, it's the number of industries represented on the list.
Cramer explained that just a month ago, there were only three industries on the list, and they represented people's fears of the market. But today, there are an astounding 25 different industries on the list, a diverse swath of our economy.Ranked by volume, the most heavily-traded stock to hit a fresh 52-week high Friday was Oracle (ORCL - Get Report), rising to $27.38 in early-afternoon trading. The database giant, which recently recruited ousted Hewlett-Packard (HPQ) CEO Mark Hurd, got plenty of investor love following strong first-quarter results.The company's software business grew "strongly" in all regions, according to Oracle, which said that its Exadata database machine continued to win new customers. A number of research firms, including Barclays Capital, Caris, RBC Capital Markets and FBR Capital raised their price targets on Oracle shares. Communications firm