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NEW YORK (
TheStreet) -- "There was a hidden bull market in today's action," Jim Cramer told his
"Mad Money" TV show viewers on Thursday.
He said while the averages might not show it, the industrial stocks are flying under the market's radar.
Consider mining equipment maker
Joy Global(JOYG), who delivered stunning earnings that sent shares up $4 a share.
Cramer said this one stock led all of the industrials higher, including names like
John Deere(DE), two stocks which he owns for his charitable trust,
Action Alerts PLUS
and has discussed at length earlier this week.
Cramer said the world needs more electricity, and that means more coal. He said it also needs more copper. And both of those commodities need more of the equipment made by Joy Global. He said this is one company that's not affected by $4 gasoline or a slowdown in China. Joy Global is in it for the long term, said Cramer, and investors should be as well.
Cramer also noted that the consumer staples, companies like
Kimberly-Clark(KMB) were all lower today, as expected, as investors move money back into the industrials.
The long-term outlook also remains good for gold, said Cramer, whict is why he continues to push hard on the precious metal to make it part of every investor's portfolio. The bull market in social media also roars on, as Internet coupon king Groupon announced that it will be coming public soon.
"There's always a bull market somewhere," said Cramer. Investors just need to keep their eyes open.