NEW YORK ( TheStreet) -- TheStreet's Jim Cramer sees an important corollary between March Madness -- the NCAA college basketball tournament -- and food.
Specifically, the food offered by Buffalo Wild Wings (BWLD - Get Report) -- beer and wings, said Cramer, co-manager of the Action Alerts PLUS portfolio. The better the tournament, the better BWLD's stock does. The stock's technicals look great, too.
But not all companies are doing as well. The high growth and momentum names aren't just getting sold on Friday, they are getting "annihilated," Cramer said.
Growth investors are rotating out of names such as Netflix (NFLX - Get Report), Tesla Motors (TSLA - Get Report) and SolarCity (SCTY - Get Report). Those same investors are putting their money to work in new initial public offerings and hot stocks like Globoforce (THNX), A10 Networks (ATEN), Amber Road (AMBR) and Endocyte (ECYT).
Investors are chasing these names and are only talking about excitement while they're beginning to talk about fundamentals in the older growth stocks, particularly SolarCity.
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He concluded that investors feel like they "missed" their opportunity in the older growth stocks and are trying to sniff out the new growth. He recommended using caution going forward.