Cramer's 'Mad Money' Recap: Transports Finally Join In (Update 2)
(Story updated to add Cramer's Lightning Round picks, Am I Diversified segment and closing comments.)
NEW YORK (TheStreet) -- Sometimes the bulls are just plain smarter than the average bear.
Those were Jim Cramer's sentiments to his "Mad Money" TV show viewers after the Dow was up for the seventh up day in a row. He said simply "the bears just don't have it anymore."
Cramer explained that perhaps the strongest bear case against the markets were the transports, a group that almost always confirms a rally if they too head higher. But in this most recent rally, the transports have been lagging, sending up warning signs for the bears. That was of course, until today.
After losing ground, the transports burst higher today, said Cramer, on the strength of the rail stocks, in particular. He said this group admitted that coal shipments were lower, but also noted that volume in all of their other segments is more than making up for the loss.
Another positive for the markets, the early release of the latest round of bank stress tests. Cramer said the bears were betting against Bank of America (BAC) and in favor of Citigroup (C) , only to get the exact opposite results today.
Cramer said he's seeing strength in the markets all around, including in the home improvement stocks like Home Depot (HD) , Lowes (LOW) and Tractor Supply (TSCO) , with business off the charts so far this month.