'Real Money' Wrap-Up: Why Cramer Loves This Tape
Jim Cramer blessed Tuesday's tape by encouraging his radio listeners to "celebrate the confluence in stocks."
On his "RealMoney" radio show, Cramer said 462 stocks -- those making new highs Monday -- can't be wrong.
"Usually if oil goes up nothing else can," said Cramer. "But nowadays, oil, retail and everything else is going up together. That means that there is more cash out there chasing stocks, and the Fed is not killing the economy."
As evidence that the consumer still feels flush, Cramer cited Tuesday's positive performances in his so-called four horsemen of the consumer: Sears (SHLD), Best Buy (BBY), Home Depot (HD) and Lowe's (LOW). All four were ramping and, according to Cramer, "when those pins fall, you are going to get a strike."The pin action from the retailers will help companies that sell products designed to improve people's homes, such as Black & Decker (BDK), Stanley Works (SWK), Masco (MAS) and American Standard (ASD). Likewise, Cramer believes that Best Buy is "ground zero for technology," and that means good things for the likes of Apple (AAPL), Dell (DELL) and Corning (GLW) which makes liquid crystal displays for big-screen TVs. Technology flying off the shelves at Best Buy also means good things for semiconductor manufacturers, since all those tech toys are stuffed with chips. Furthermore, Cramer highlighted that summer is typically not the best time for retailers, something he says augurs a strong fall. "Housing, autos and retail are all doing better than anybody thinks," said Cramer. "Use the selloffs to put money to work." Despite the solid tape, Cramer said not everything is a raging buy. He is not high on financials, other than longtime fave Commerce Bancorp (CBH), and he is also not big on chemical stocks. In his "Danger Zone" segment, Cramer suggested selling WPT Enterprises (WPTE), the force behind the television phenomenon World Poker Tour.
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