There's a lot of positive pin action in the stock market right now, Jim Cramer told his Mad Money viewers on Monday. That's encouraging news, Cramer said, as it doesn't take many positives to outweigh the market's macroeconomic negatives.
Today we saw a number of big-cap stocks move the markets, including Apple (AAPL) - Get Apple Inc. (AAPL) Report , a trillion dollar company that's still able to make new highs on the strength of the iPhone 11. Cramer said Apple has been navigating the trade war better than anyone, engaging both sides to protect its interests.
But Apple wasn't the only winner. Shares of JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report tacked on another 2.4% Monday on the strength of last week's earnings. Cramer said this stock still trades at less than 12 times earnings with a 3% dividend yield that makes it very attractive.
Still other winners included Honeywell (HON) - Get Honeywell International Inc. (HON) Report , which is levered to both the industrials and aerospace, yet was still able to surge thanks to fantastic management. The same goes for Union Pacific (UNP) - Get Union Pacific Corporation Report , which is executing despite a labor strike at General Motors (GM) - Get General Motors Company (GM) Report that's crimping auto and auto parts shipments.
Cramer said those who only focus on the macroeconomic picture are missing out on these fantastic stories at individual companies.
Off the Charts: Volatility Ahead?
In the "Off The Charts" segment, Cramer checked in with colleague Carley Garner over the health of the overall stock market, where Garner sees trouble ahead.
Garner first looked at a weekly chart of the CBOE Volatility Index, known as the VIX, coupled with the commitment of traders, or COT, report. She noted that while the VIX is low, there are many large speculators that are short the market, meaning a pullback is likely.
This move was confirmed, in Garner's eyes, by a monthly chart of the S&P 500, which also suggested a pullback with a ceiling of 3,150 and a floor of support at 2,560. For the Nasdaq, Garner saw the ceiling of 8,240 and the first floor of support near 6,930 and the long-term floor down almost 25% from current levels.
Cramer said while he doesn't subscribe to Garner's bearish outlook, he said it always pays to know what the bears are thinking and to trim your positions as the markets head higher.
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Industrial Stocks with Power
Dover is a company you've probably never heard of. The company makes fluid handling systems, engineered systems for a host of different industries and refrigeration systems for industrial applications. Back in 2016, Dover was primarily an energy play, thanks to an ill-timed acquisition. But in 2017, Dover took the necessary steps to spin off its energy assets and focus on diversifying its remaining businesses overseas.
With a new CEO last year and an activist investor, Dover has been trimming its portfolio of businesses, cutting costs and bolstering its bottom line. When the company last reported, it delivered 6% revenue growth with rising gross margins that prompted management to boost the lower end of their full-year guidance.
Cramer said there aren't many industrials that can beat the gravitational pull of the trade war, but with shares up over 40% for the year, Dover is one company that has done it.
Off the Tape: StockX
In his "Off The Tape" segment, Cramer sat down with Scott Cutler, CEO of the privately-held StockX, a new online marketplace that's created a stock market of things.
Cutler said he's no stranger to online marketplaces, having worked at both eBay (EBAY) - Get eBay Inc. Report and StubHub (STUB) . He said StockX is all about bringing buyers and sellers together in multiple categories from shoes to collectibles. He said their most recent deal partnered with Adidas for three types of unique, limited edition sneakers. Over 7,000 people participated in that auction from around the globe.
When asked about the appeal, Cutler said that sneakers are popular everywhere and China makes up 10% of their market so far. Everything they offer sells out, he said, but in the end, consumers set the prices they're willing to pay and most pay less than their maximum bid.
The IPO Flood
In his "No-Huddle Offense" segment, Cramer said all year he's been warning that the flood of new IPOs would overrun the markets. Now, it looks like it's finally happened. The cloud stocks in particular have been getting slammed, just like the dot-com stocks did in 2000.
Cramer recalled that back in 2000, there were two markets, the red-hot Internet stocks and well, everything else. Once the market tired of the Internet names however, they sold in an instant in favor of predictable names with solid dividends. Today's market feels a lot like 2000, even though the number of cloud names is far fewer and most have actual earnings.
But with many of these IPOs nearing their lockup expirations, Cramer said he expects even more selling in names like Uber (UBER) - Get Uber Technologies, Inc. Report . He said investors need to be wary of the cloud stocks now that they've fallen out of fashion and should only consider the best in the group and only after they've fallen a little more.
In the Lightning Round, Cramer was bullish on Advanced Micro Devices (AMD) - Get Advanced Micro Devices, Inc. Report , Nvidia (NVDA) - Get NVIDIA Corporation Report , Exelon (EXC) - Get Exelon Corporation Report , Dominion Energy (D) - Get Dominion Energy Inc Report , Merck (MRK) - Get Merck & Co., Inc. (MRK) Report , Seattle Genetics (SGEN) - Get Seagen, Inc. (SGEN) Report and Tandem Diabetes Care (TNDM) - Get Tandem Diabetes Care, Inc. Report .
Cramer was bearish on Cloudflare (NET) - Get Cloudflare Inc Class A Report , Endo Pharmaceuticals (ENDP) - Get Endo International Plc Report and Ionis Pharmaceuticals (IONS) - Get Ionis Pharmaceuticals, Inc. Report .
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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, JPM, HON, NVDA.