record will have the fewest high-fives in history. I bet the
, my fave, gets slapped for a gigunda loss. Not only that, but we are faced with end-of-the-month buying, and I believe it will accentuate winners and clobber losers.
Yep, cyclicals again.
You know what is going on all over the Street today? Guys who cover
are getting calls, some for the first time this decade. Some of these analysts have been in the trenches longer than the skeletons at
Now they are up over the top. They are scrambling for no man's land. There are no more machine guns, no more shelling. Heck, it is open field running to the bullish side.
Tomorrow they will ask for time on the morning research calls to talk up their stocks. Half of the brokers have never heard of these guys and three-quarters of the clients know nothing about their stocks. They do know this: The only owners of these stocks are people who -- if they didn't sell already into the pop -- just aren't selling.
So there is no supply. And massive demand.
The biggest problem? There aren't enough cyclicals left. Heck, there are more Net stocks than cyclicals. Much of the stock has been retired in this sector. Don't believe me? Even the
Morgan Stanley Cyclical
sector has stuff like
. And like land; they ain't makin' any more of them.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in the stocks mentioned, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at