This column was originally published on RealMoney on May 10 at 12:04 p.m. EDT. It's being republished as a bonus for readers.

We are having some breathtaking moves in big-cap stocks that no one seems to be focusing on. You can't beat this 10-point run-up in

United Technologies

. That's extraordinary. This isn't some thinly traded tech stock. This is the real deal.

Or the 6-point ramp in


(GM) - Get Report

. How about the relentless rise in


(SLB) - Get Report

which is a very big stock, in terms of capitalization.


(BA) - Get Report

, blowing through levels. Same with


(CAT) - Get Report

. How about that run-up in

Cummins Engine

(CMI) - Get Report


I point these out because when I see

Texas Instruments

(TXN) - Get Report

not rallying on bullish news or when I see


(QCOM) - Get Report

stalled, or


(MSFT) - Get Report



(INTC) - Get Report

languishing, I have to point out that these, again, are sources of funds for the breathtaking moves in the big-caps away from tech and health care.

Let's focus on United Tech for a moment, because it is most instructive. I can recall a time not that long ago when someone on television was giving CEO David George an extremely hard time about his extensive buyback. George just kept insisting that it was a good use of capital because of how the company was dirt-cheap vs. its growth rate.

Sure enough, what's making this gallop so quickly -- and what is making so many of the industrials ramp still higher -- is the buybacks, which have sopped up the supply.

Once again, demand is overwhelming supply. (Did I mention


has this kind of buyback, and I expect it to be up 20% in one week with a big buyer.) Contrast that with


(CSCO) - Get Report

, which issues stock like it is the U.S. government. I know that there has been a long-term buyback that has done some float shrinking, but the supply of Cisco is


tight. There are always sellers, including options holders. It's really hard to get traction.

You can't get a good move when supply is flooding demand (



(UNH) - Get Report

). But when supply's been bought back, no new shares are being issued -- a la United Tech -- and there's excess cash with no stock being issued for acquisitions (again, unlike tech), this is what you get!

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At the time of publication, Cramer was long Qualcomm, Sears Holdings and UnitedHealth Group.

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