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The Trump rally is still not over, Jim Cramer told his Mad Money viewers Monday, it's just morphing into a whole new kind of bull.
That's the only explanation for how the stocks of FANG -- Cramer's acronym for Facebook (FB) - Get Report , Amazon.com (AMZN) - Get Report , Netflix (NFLX) - Get Report and Alphabet (GOOGL) - Get Report , formerly Google, can rally along with Diamondback Energy (FANG) - Get Report .
Cramer said the first wave of the Trump rally sent the bank stocks soaring on the hopes of less regulation, the industrials on hopes of increased infrastructure spending and the drug stocks on hopes of less talk about price gouging.
But this second wave is a whole new animal, one that has enough new money coming into the market to lift all of these sectors AND the tech sector.
Indeed, today saw shares of Facebook, an Action Alerts PLUS holding, up 4% on the heels of the company's $6 billion stock buyback. It's also propelled Amazon up 2.6% and Netflix up 2.3%.
Then there there the other "fang," Diamondback Energy, whose stock soared 3.4%. Cramer said Diamondback's rise should come as no surprise given the company's 30% production growth and the new optimism Trump has shed on fossil fuels.
Today was the first day where both FANGs could rally at the same time, but it likely won't be the last, Cramer concluded, as the attitude for stocks as an asset class appears to be improving by the day.
A Special Invitation
It's not how you voted, it's how you invest. So how can investors win in the wake of this historical election? If you're planning to be in New York on Tuesday, Dec. 6, you are invited to join senior editors from TheStreet and our special guest experts for a cocktail party and lively conversation about the outlook for the U.S. financial markets. Which companies and sectors are poised to profit? What shocks and opportunities await investors in the new year? Listen to and meet our panelists: Lew Altfest, CEO of Altfest Personal Wealth Management; Barry Ritholtz, founder of Ritholtz Wealth Management; and Larry Siegel, director of research at the CFA Institute Research Foundation, with moderator Robert Powell. This evening event is free and will be held at The Harvard Club of New York. Reservations are required. For more information or to RSVP, please email firstname.lastname@example.org
Facebook shares are climbing in the wake of a $6 billion buyback plan. Read what Cramer and Jack Mohr are telling their members about this big move, and get a free trial membership to Action Alerts PLUS.
Coming up on this episode of Mad Money: Cramer interviews Randgold Resources (GOLD) - Get Report CEO Mark Bristow, and Align Technology (ALGN) - Get Report CEO Joe Hogan. Plus, Cramer explains why bank stocks like Bank of America (BAC) - Get Report and Citigroup (C) - Get Report are a buy.
Executive Decision: Randgold Resources
Bristow said that Randgold continues to plan for the long term, focusing on value and remaining disciplined in growth. That's why the company has never had to cut their exploration budget and why they were able to make up the deficits they incurred earlier in the year.
Randgold is still forecasting 7% production growth for 2016 with declining costs. Bristow noted that Randgold will soon have no debt and once that happens, the company will begin returning excess cash to shareholders.
Cramer said that Randgold has done a remarkable job delivering on the plans they have laid out.
Executive Decision: Align Technology
In another "Executive Decision" segment, Cramer spoke again with John Hogan, president and CEO of Align Technology (ALGN) - Get Report , the orthodontic company that just delivered an 11-cents-a-share earnings beat with 85% growth year over year.
Hogan said that more and more orthodontists are beginning to see that going digital is the future and that Invisalign products are superior to traditional braces. While Align is currently only suited for about 60% of all orthodontic applications, Hogan showed off some new products that will, he said, increase that percentage to over 80%.
Align is also expanding its footprint, both abroad in places like India and here at home by making a bigger push into dental schools. Hogan noted that Spain has become one of Align's hottest markets and is providing a template for how his company will be marketing its products.
Long Live the Mall
The mall may be dead, and mall retailers doomed, but that hasn't stopped the stock of Children's Place (PLCE) - Get Report from producing an incredible 28-cents-a-share earnings beat that sent shares rocketing 13% in a single day and 83% for the year.
Cramer said this retailer of children's apparel with 1,061 locations had been flatlined for years, trading essentially sideways from 2012 through 2015, but after activist investors took control of two seats on the company's board of directors, Children's Place has mounted an incredible turnaround.
In addition to shuttering underperforming locations, Children's Place has taken control of its inventory and become less promotional, which has led to bigger gross margins and stronger e-commerce sales. The company is also aggressively expanding overseas and modernizing its technology.
On the company's conference call, executives noted that they were able to deliver such strong results despite the macro economic issues and expect to get stronger as the economy improves.
Despite the stock being on fire in recent days, Cramer said Children's Place still has more room to run.
In his "No-Huddle Offense" segment, Cramer sounded off against the analysts who don't seem to know the difference between expensive stocks and stock that have just run higher.
Case in point: the banks, a group that the analysts continue to bet against despite the fact that the stocks are so far behind the rest of the market. Even after a big move higher, shares of Bank of America aren't back to where they were in April 2010. Shares of Key Corp (KEY) - Get Report are only half of where they traded in 2007 and shares of Citigroup are still lower than July of 2015.
Cramer said the banks are a buy, not a sell, given that they are in far better shape than they were before -- and that's before the prospects of higher rates.
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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, FB, ADBE, GOOGL, AEP and C.