The Return of the Shining Cyclicals

These stocks were made for a day like this, but there aren't enough of them to go around.
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Welcome back, cyclicals. Yeah, even through the sell programs, these stocks are shining. These stocks were made for today. They were put on earth for high growth, somewhat higher than the inflation number. So, it looks like the two-day trend into the slow-mo companies, the food and drugs, was wrong, and five guys are fighting to buy the paper and chemical stocks.

But there is no silk purse here. There aren't enough cyclicals to go around to paint this tape green. On the fly, we are rebuilding cyclicals that had profit-taking and trying to lighten up on anything interest-rate sensitive. (Heck, the lead bond anchor will do that job -- no sense doubling up.)

And we waffle over whether tech works here or not now that

Oracle

(ORCL) - Get Report

is out of the woods. Right now, it looks like it works. Could use a shave and a shower right about now. Oops, it is only 10 a.m.!

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

letters@thestreet.com.