TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said there are three catalysts which are pushing shares of some of the big industrial names higher. Cramer said, 'GE (GE) - Get Report , United Technologies (UTX) - Get Report , Parker Hannifin (PH) - Get Report and aerospace names like Boeing (BA) - Get Report . Aerospace is on fire. We didn't get that from Alcoa which kind of threw us off at the beginning.' But, Cramer does caution that the industrial stocks could still be hurt by the Fed. Cramer said there is a trio of reasons why industrial names are moving higher. 'The dollar is not going up any more, the orders are there and because they fired a lot of people.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.