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NEW YORK (
) -- This market rally remains for real, Jim Cramer told
He said that while there are many smokescreens and sideshows obscuring the earnings of great companies, the reasons why the market is heading higher make perfect sense.
It's no surprise markets remain hated by many investors. There's endless talk about the falling price of copper, which is directly tied to global economic growth. Other commodities like aluminum aren't faring much better, Cramer noted.
Natural gas, which looked like it might be hitting it bottom, was recently smacked still lower, and China didn't cut interest rates to spur growth as the world was hoping.
Perhaps the only thing heading higher in this market of mixed signals is the price of corn and soybeans thanks to continued drought conditions. But even that trend is confusing, said Cramer, as the food stocks continue to head higher as well. With these companies needing to pay more for corn and soy, this makes no sense, said Cramer.
Investors are fixated on the wrong things, concluded Cramer. He said the price of commodities doesn't matter to most stocks. The earnings of a few down-and-out names like
Research In Motion
don't matter either. The latest election buzz won't make you money as all things are just smokescreens to throw investors off the scent of the real opportunities.
What are those opportunities? Profits. Cramer said while the media focuses on declining revenue, it's profits that make investors money and allow companies to boost their dividends. Great companies like
, a stock Cramer owns for his charitable trust,
Action Alerts PLUS
, are out there, he said. It's a shame investors are missing them.
In the "Executive Decision" segment, Cramer sat down with Dr. Leonard Schleifer, president and CEO of
(REGN - Get Report)
, a biotech stock that Cramer first got behind in 2005 and since then has rocketed higher for a 2,696% gain.
Schleifer said the story at Regeneron hasn't changed since the company was founded in 1989 - it's out to make a difference in the health of patients. He said his company's new colorectal cancer drug was just approved last week. While it's not a cure, its another option for patients who have failed first-line treatments.