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  1. Home
  2. / Investing
  3. / Technology

The Market Takes Trouble in Stride

Investors shrug off some poor reports and bid up stocks across all sectors.
By JIM CRAMER Jan 31, 2012 | 03:56 PM EST
Stocks quotes in this article: NKE, GOOG, RL, WPRT, AAPL, MS, GS, GS, C, XOM, RSH, CLR, TJX, DKS, COST, EOG, LTD, PFE, UPS

Financials, retailers, tech and gold. Not often do you get that combination. But when you are able to rack up the best January since 1997, you need a market that's firing on all cylinders.

Today is a microcosm of what you need to make a terrific rally go. You see growth stocks like Nike (NKE), Google (GOOG), Ralph Lauren (RL), Westport Innovations (WPRT) and Apple (AAPL) rolling higher. But the market is really being led by Morgan Stanley (MS), Goldman Sachs (GS) and Citigroup (C). Terrific representation.

Gold is putting on a breakout move today, courtesy the fantasy of European money. We are all figuring out that the governments are going to reflate over there, and that has put a bid in under gold.

This market is the definition of benign. It doesn't take its cue from the negatives -- Exxon Mobil (XOM) and RadioShack (RSH) being the most visible. The growth oils, such as EOG Resources (EOG) and Continental Resources (CLR) rallied today. Last year, Exxon Mobil would have killed the whole group. Buyers of TJX (TJX), Limited Brands (LTD) -- nice dividend boost -- Target (TGT), Dick's Sporting Goods (DKS), Costco (COST), are all totally ignoring RadioShack's warning about poor sales.  

It shrugs off a decline in the euro. It doesn't care about a mild shortfall in Pfizer (PFE). It doesn't foment reasons for a decline in United Parcel Service (UPS) and accepts the profit-taking judgment.

It goes case-by-case, not ETF by ETF. Just terrific all-day action.

_______


More from Jim Cramer:

  • A Hostage to Europe No Longer
  • A Powerful Chip Story
  • The Market's Afternoon Amnesia
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Cramer was long AAPL and TJX.

TAGS: Investing | U.S. Equity | Consumer Discretionary | Technology | Stocks

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