The coppers, oils and steels have so little support that it's obvious - absent major orders by China next week - they are going to touch their lows again, and they may not hold.

As tempting as they were to own Thursday, the gains are all chimerical from here on - as chimerical as oil up five is - knowing now that down six is the instant follow-on.

I cannot emphasize enough how little support the commodities have here. The only thing tempting about them is how much they will go up when they do have their rallies - and how it is well worth waiting for them.

Case in point: Cabot Oil and Gas. I own this stock because it is the best Marcellus-shale play I know.

The market and analysts could care less. The stock is down 40 points and seems to be slated for the 30s. It doesn't matter what happens, this stock has the least support of any I've seen in years. It's a total function of how "over" commodities are.

I think Friday was a real rally. I expect more. The more time we keep ourselves from the July 15 lows, the more obvious it will be that my position that those lows will hold will be true.

Originally published by James Cramer, TheStreet.com.

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