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September 19, 2012  Wed 8:14 AM CT

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It's hard to be all that negative when there are so many leaders from so many groups right in front of us.

For example: Don't you marvel at Procter & Gamble rising again in the face of higher commodity prices? Unless it's just oil. Clorox is rallying too, as well as Mead Johnson, Coca-Cola, UnitedHealth, and Perrigo.

Then there is Gilead with its climb, as it dawns on people that we have a potential winner in the Hepatitis C war. Allergan's got some spring and, you know, I think that it has become a chronically undervalued story because of what I bet will be a one-time slowdown in its core opthamalogic business.

TheStreet.com logoAll of this is happening at a time when the semiconductors and techs are shrugging off RBC's big downgrade of the semis, with Nvidia slammed in the research but acting just as well as Broadcom, the only chip stock that the firm seems to like. Meanwhile, a small research boost for F5  has it as a big gainer in the S&P.

Yet, I could call this an industrial rally led by Danaher, Cliffs Natural, and Joy Global. How amazing would that be, considering the soft-goods rotation that shouldn't be happening at the same time, especially when FedEx is making you feel like a chump for owning anything that needs more commerce?

All in all, a confusingly bullish day.

Disclosures: Cramer's charitable trust has no positions in the stocks mentioned.
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The market's acting rationally overall, but the exacerbations in light of the Saudis carrying the day and the lack of oil demand is pretty shocking. Have to let this all settle, though, before you pick.

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