The Last Dot-Com Mile - TheStreet

This is the broadest rally I have ever seen! It includes every single stock that may play a role in the last mile of wire into your house. It encompasses many of the stocks that provide customer retention services and email for Web companies! It favors stocks that make dot-coms work faster and via wireless. And it blesses a handful of biotechs!

It is pretty humorous when you think about it. Anything in those spaces goes higher. Anything! But away from those groups, we might as well be in the Gobi Desert without a Global Positioner.

Join the discussion on

TSC

Message Boards. We lose a group of stocks a day around here. Yesterday the market took apart the aerospace and defense stocks. Just annihilated them. Laid them to waste. The culprit? Some nasty

number from

Litton

(LIT) - Get Report

. Litton? It's still alive and kicking?

Last week, the market demolished the personal care stocks. And the cyclical stocks! The chemicals and papers got totally trashed. Soaps and woods both on the new-low list!

The week before that, we wiped out many of the financials, many of which are being torn upside down by the inverted yield curve. These savings-and-loans are going penny-stock on us.

But ahh, that last dot-com mile with lots of bandwidth and a broadband strategy that pleases customers via optical and wireless solutions and Class Seven Switches -- and don't forget the biotech -- now that's what it is all about!

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 any stocks mentioned. 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.