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The Good-Old-Days Redux

All the NDX faves are acting like their former, glorious selves.
Author:

The

NDX

strikes back! Doesn't it seem like the old days with

Mister Softee

(MSFT) - Get Microsoft Corporation (MSFT) Report

and

Dell

(DELL) - Get Dell Technologies Inc Class C Report

and

Yahoo!

(YHOO)

on rampages? Doesn't it remind you of all last year, with the advance-decline line terrible but that handful of lovable stocks just ramping and ramping?

What can I say? Last year we were selling these stocks. Not this year. We think we have a trading rally that could go on for a little while, especially given that bonds are

against

us and we still have this buoyant tape.

Why do we have such strength? To me the reason is a dearth of information. There is nothing out there that could derail us right now, no new macro figures, no important earnings save the brokerages (which should be pretty good).

Plus, we have all of that great speculation about who is getting into the

S&P

in the absence of

Ascend

TheStreet Recommends

(ASND) - Get Ascendis Pharma A/S Sponsored ADR Report

, with the shorts bewildered about where the next bull might be stampeding from.

Finally, we have

Media Metrix

, mentioned by

Lashinsky

in these

pages. I would add that many of the companies that are rated by Media Metrix weren't too happy with last month's numbers and have showed Media Metrix new and better ways to count users. I think numbers are headed higher and better after those tutorials.

We are also seeing some natural rallies in stocks that were pinned by expiration. It looks like Microsoft might have been pinned at 85 and

IBM

(IBM) - Get International Business Machines (IBM) Report

, as it was mentioned

here, was definitely pinned at 120.

And, there are splits galore this week, including

Cisco

(CSCO) - Get Cisco Systems, Inc. Report

.

In other words, plenty of reasons not to sell.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long IBM, Yahoo!, Cisco and Microsoft. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may 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

jjcletters@thestreet.com.