Cramer's 'Mad Money' Recap: Hidden Bull Market (Final)

EW YORK (TheStreet) -- "There was a hidden bull market in today's action," Jim Cramer told his "Mad Money" TV show viewers on Thursday.

He said while the averages might not show it, the industrial stocks are flying under the market's radar.

Consider mining equipment maker Joy Global(JOYG), who delivered stunning earnings that sent shares up $4 a share.

Cramer said this one stock led all of the industrials higher, including names like Caterpillar (CAT) andJohn Deere (DE), two stocks which he owns for his charitable trust, Action Alerts PLUS and has discussed at length earlier this week.

Cramer said the world needs more electricity, and that means more coal. He said it also needs more copper. And both of those commodities need more of the equipment made by Joy Global. He said this is one company that's not affected by $4 gasoline or a slowdown in China. Joy Global is in it for the long term, said Cramer, and investors should be as well.