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This Rally Is Getting Ahead of Itself

By Jim Cramer

About this article:
Safety is dead last. This rally is pure optimism. Pure acceleration of economies. Pure in-the-face of everything you read in the papers and hear on air. Honestly, have you heard a single good word about the economy? But steel, iron, equipment, oil and electronics are just on fire. The bullishness here for an Eaton or a BHP Billiton or a Freeport-McMoRan is remarkable. You do not get this kind of money when things are just plain bad. I know that China is strong. But is Cisco strong? Union Pacific strong? Occidental strong? You have to respect the market's forecasting. This rally, which includes gigantic out-of-soft-goods selling, indicates boom. But where is the boom going to come from? Our stimulus package, which doesn't really build much? European stimulus, when there's no real sign of any turn there? The heavy equipment segment of this market is so strong. That's...

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