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March 14, 2013  Thu 8:14 AM CT

FCX: SEE CHART GET CHAIN FIND STRATEGIES
Rotation was pretty obvious yesterday. We saw the Colgate-Palmolives and Procter & Gambles struggle to gain and not doing all that well.

We also saw the minerals acting terribly again, courtesy of China. But we've got the industrials continuing to rally, and the transports? What can I say about them? They are, and have been, the beacon.

This tape is just about exactly what the doctor ordered. The 19x earnings stocks are peaking for the moment, while the 10x to 12x earnings stocks are coming on strong.

The newfound hatred of anything China is reminiscent of the hatred of anything Apple. Freeport-McMoRan is horrendous. I am stunned that there is no level where Cliffs Natural Resources can bottom. That stock acts as if it is the J.C. Penney of minerals.

TheStreet.com logoThe coal stocks are just pathetic again, even as the rails that carry the stuff can't seem to be stopped. I am watching the selling in Vale being so obvious--meaning that the seller can't finish, no matter what--that is totally overdone.

The good is that non-Apple tech is doing better. The action in VMWare and Broadcom yesterday (up for a second straight session) was totally reassuring.

All that said, this day is still a quandary. What do we make of a small number cut in Bed Bath & Beyond that annihilates the stock, or the continued decline in Ross Stores, while the underperforming Best Buy keeps going higher? The homebuilders, long the leaders, can't rally, but the home improvement plays can't be stopped.

Lots of inconsistent action for the ninth consecutive up day for the Dow.

Not bad. Not good. Just very inconsistent and very difficult to game individual stocks from day to day.

Disclosures:
Cramer's charitable trust is long AAPL and VALE.
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