RealMoney Radio: H-P Keeps Traders Grinning

The markets continue to climb; today they're getting a boost from Hewlett-Packard.
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The three up days in the market have investors jazzed, Jim Cramer said on his

"RealMoney" radio show Thursday.

We haven't been able to put up this streak in a while, Cramer said. In fact, the

Dow Jones

hasn't been at this level since May and the

Nasdaq

hasn't seen such a good stretch in two years, he said.

One of the catalysts for the Nasdaq's up performance today was the great quarter from

Hewlett-Packard

(HPQ) - Get Report

, he said. Its quarter showed that the problems with PCs is with

Dell

(DELL) - Get Report

, not PCs in general, Cramer said.

"Hewlett-Packard beat their own forecast and analyst's expectations, plus they offered a rosy outlook," he said.

But instead of enjoying the party, the media immediately focused on whether Hewlett-Packard would be able to sustain this kind of growth in a classic way to keep you out of a great stock, Cramer said.

The media can't stop making people feel wary about a win, he said. Although it is possible that "things may go south for Hewlett-Packard," Cramer said he's betting it will keep doing well.

Meanwhile, "Dell is imploding," he said. "Let's forget about it and buy some Hewlett-Packard."

Another sector that's taken a beating from the media is housing.

"Every media outlet says housing is finished," Cramer said. "Naturally you would think that anything related to it will get hit as well, but not anymore as the

Fed

stops raising rates."

Masco

(MAS) - Get Report

is "rallying a bit,"

American Standard

(ASD)

is starting to go up, and even

Black & Decker

(BDK)

is doing well, he said.

What Cramer see's happening is that if the Fed quits raising rates and housing picks up, people will start to fix up their houses using products from these companies, he said.

When people can't sell their houses, they fix them up, he said. Cramer doesn't believe these companies are going to go any lower; instead, they're ready to go up, which is why he recommends people make small purchases in them.

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At the time of publication, Cramer had no positions in stocks mentoined.

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