TheStreet.com RealMoney

The Market Was Ready to Break Out

By Jim Cramer

About this article:
The charts told the story. The charts over the weekend which showed the most reverse head-and-shoulders patterns -- primed for big move-up -- that I can recall in ages. There were so many potential breakouts, in pretty much every industry from Abercrombie & Fitch and Boeing to VF Corp. and VMware. People keep forgetting the power of Mutual Fund Monday. They also forget that a late-Friday ramp/markup may simply be fear of getting swept up in a tsunami of buying like we are having today. I have never, other than right after the first Gulf War began and right after the second Gulf War began -- both what I called "exquisite moments" -- seen such buying. People are buying counter-intuitive stocks: minerals and mineral users, oil pumpers and oil needers, borrowers and lenders, stocks that need the consumer to spend and stocks that indicate the industrials are...

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