Cramer's 'Mad Money' Recap: Feb. 12

This article was originally published Feb. 12

Click here for an archive of Jim Cramer's Mad Money recaps.

---

"Tomorrow is a wonderful time to ring the register," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

He said the market rallied today on the strength of two invisible pillars.

According to Cramer, today's late rally, along with all of its recent rallies, have been due to hype surrounding the economic stimulus package and strength in the tech stocks. Despite these "market movers," the market remains "treacherous," he said.

Cramer again slammed the stimulus package as nothing more than tax cuts, unemployment benefits and pork, none of which will do anything to save the economy. "The stimulus plan puts a mild depression right back on the grill," he warned.

Cramer said the stimulus plan does nothing to solve the housing crisis, nor anything to help unemployment, nor does it address the banking crisis. He scoffed at the additional $500 tax credit for buying a home as a joke.

Without a serious uptick in jobs, he said, large scale bank failures are looming. Cramer also warned the drop in home foreclosures is temporary and the worst may be yet to come.

Turning to the tech rally, Cramer issued words of caution, saying that the rally is unwarranted. The only real growth in tech, he said, is in smartphones, and that leaves stocks like Cisco (CSCO Quote), Amazon.com (AMZN Quote) and even Google (GOOG Quote) feeling very bloated.

Cramer: Obama's Stimulus Plan Is a Joke