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Jim Cramer: Growth Stocks Catch a Wave

Editor's Note: This article was originally published on Real Money on Dec. 17. To see Jim Cramer's latest commentary as it's published, sign up for a free trial of Real Money.

The growth stocks are having a decent time of things, and I think that a lot of it is simply the halo that comes from a couple of big growth stocks that have said good things.

For example, lululemon athletica (LULU) was supposed to have been hammered, but it hasn't happened, and that's in large part because when people pulled apart the quarter, they realized that the growth path, the years of growth ahead of it, makes it a stock that you can pay up for. That was an extraordinary quarter, and the failure of the shorts to keep it down or bring out sellers has emboldened people to stick with some hard-to-own longs.

I think the strength in lululemon has allowed for strength in V.F. Corp. (VFC) and PVH (PVH), both highly valued apparel companies.

Chipotle Mexican Grill (CMG) has game, because a boutique investment/survey house said business is a little better of late. That's big news, given the last couple of misses, and when you get good news there, it can spill over to Panera Bread (PNRA).

Then there is Salesforce.com (CRM), which, like lululemon, reported a terrific quarter but was kept back simply because no one wanted to pay up for blowouts when it released its earnings. Now it is breaking out as investors circle back to what's still working.

Now all of these stocks are hostage to the overall pull of the market, but it's worth it to point out that when selling dries up intraday, these are the leaders on the comeback trail.

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