Cramer's 'Mad Money' Recap: The Tech Rally Is for Real (Final)

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This is not a bear market rally, Jim Cramer emphatically told viewers of his "Mad Money" TV show Monday.

Unless investors are living in an alternative universe, he said, the question they should be asking is "how strong is this bull?"

Cramer pointed out that despite the nonsense and skepticism from just about everyone in the media, the Nasdaq is up 17% from its lows. "That's not a bear market," he said. He rattled off a laundry list of Nasdaq names that are clearly in bull- market mode.

Apple (AAPL Quote), for example, is up 69% for the year, and that was before today's announcement of a new iPhone. Google (GOOG Quote), is up 43% as the Web continues to take advertising market share from newspapers. Meanwhile, Amazon.com (AMZN Quote) is up 68% on continued strong sales.

Cramer said Cisco (CSCO Quote), a stock which he owns for his charitable trust, Action Alerts PLUS, is up 28% year to date. Other tech bellwethers include Research In Motion (RIMM Quote), up 102%, and Qualcomm (QCOM Quote), up 25%.

Non-tech stocks are also doing well, he said. Express Scripts (ESRX Quote) is up 17% for the year and Joy Global (JOYG Quote) is up 74% on strong growth from China.

Cramer said when even the laggards, like Intel (INTC Quote), are still up 8%, it becomes painfully clear that this is no bear market.