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NEW YORK ( TheStreet) -- If you care about making money, stocks are still the only place to be, Jim Cramer told his "Mad Money" TV show viewers Monday, after another up day on Wall Street. Cramer said the bears are beginning to come out in droves, proclaiming that the top has arrived, but that simply isn't the case.
With the markets up 24% for the year, Cramer said, history remains on investors' side. Historically, markets that are up more than 20% going into November have only added to their gains. Stocks have been a great place to be since the lows of March 2009. Add to that a steaming hot IPO market, and the effectively nonexistent yield from all other forms of investments and it's easy to see why stocks remain the place to be.
There are no real alternatives to stocks, Cramer continued, and with the S&P 500 trading at just 14.7 times forward earnings, stocks really aren't that expensive either. Some sectors, like biotech, continue to rally with names like Celgene (CELG), Gilead Sciences (GILD) and Regeneron (REGN) continuing to shine.Yes, there are some stocks, like the newly minted Twitter (TWTR), that ARE wildly expensive, but that doesn't apply to the market at large. The analysts who are calling for a top in the market are those who never had any conviction in the rally to begin with, Cramer said, but in reality, stocks remain the only game in town.