Jim Cramer: Roku, Caterpillar Are Keys to This Market

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Are we in a two-headed market? Well, that's Jim Cramer's current thesis.

"Roku versus Cat! OK, it's not King Kong vs. Godzilla, the only real box office hit so far this year, but when it comes to stocks it might as will be," Cramer wrote in his Real Money column. "Every market has a coloration, a stock that typifies it, that stands for it and that defines it. Some markets have two heads though, and this market has two of the most ridiculously stark two heads I can recall, Caterpillar (CAT) , the huge machinery company, and Roku (ROKU) , the box that makes staying at home and watching non-linear TV so much fun."

"I know we speak as if there are two markets out there, the freedom market, which is us going out to the movies or dinner or getting on a plane to travel again, and the imprisoned market, the one where we ride on our Pelotons (PTON) and cook with our Conagra (CAG) while wiping our kitchens and baths with Clorox (CLX) wipes, but that's actually a false dichotomy when it comes to what's going to happen next," he continued.

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