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NEW YORK (
) -- Stop trading off old
meeting minutes, Jim Cramer commanded
Cramer said what the Fed was thinking over a month ago has no lasting impact on today's markets. When today's selling subsides, the bulls will be back.
Bear markets come in all shapes and sizes, Cramer explained. Some are caused by rising inflation, some are self-induced and still others stem from markets abroad. But bull markets are all the same, with several factors in common.
First, every bull market must have its share of skeptics, as this one does. It must also have a compliant Federal Reserve, which we also have, with super-low interest rates and aggressive bond buying. Bull markets also need lowered expectations, ones that companies can easily beat. We've had many companies beating earnings and raising estimates this quarter.
Finally, Cramer said all bull markets need something new to like, which we saw today in natural gas, biotech and even the retail sector.
A bull market doesn't mean everything is going up all at once, however. Cramer said that as one sector heats up, another cools off -- which is why social media stocks are cooling since the
IPO as others, such as 3D printing, are ailing.
But the overall direction of the market is clearly higher, Cramer concluded, which is why investors should be ready once the Fed-induced sellers have moved on and the bulls return.
It's a Gift
Today's market weakness is a gift for investors looking to buy into stocks of companies that are executing well, said Cramer. He highlighted
Dick's Sporting Goods
Cramer said housing remains one of the areas of the economy on fire, and Home Depot's 8.2% rise in same-store sales proves it. Everything from kitchen and lighting to plumbing and tools are on the rise at Home Depot, and Cramer said that bodes well for
Fortune Brands Home Security
Stanley Black & Decker
, as well as for
, which Home Depot called out by name for its hot-selling LED light bulbs.
Dick's also saw strong sales, Cramer noted, which makes him want to look into both
, as both of those companies should also see strong sales.
Finally, there's Best Buy, which called out tablets as its hot item this quarter. Cramer said that's great news for
, a stock he owns for his charitable trust,
Action Alerts PLUS. Apple has many naysayers, but even they can't deny that there will be a ton of Apple tablets under the Christmas tree this year.
The markets took many of these names lower today, Cramer concluded, and that's a gift that should be taken.
Executive Decision: Ben Baldanza
In the "Executive Decision" segment, Cramer spoke with Ben Baldanza, president and CEO of
, a stock up 52% since Cramer last checked in back in May.
Baldanza commented on his company's advertising by noting customers appreciate the pop culture humor, which helps to set the tone for Spirit's philosophy of great service at great prices. He said when asked what they want most from an airline, flyers overwhelmingly choose affordable fares, which is why Spirit was built with low fares in mind.
When asked about growth, Baldanza said there are currently over 500 markets that have the right mix of customers and pricing for Spirit to grow into, and the company will be closely watching the auctions for gates being sold by the
merger. Spirit represents just 1.2% of the overall market, said Baldanza, so there is plenty of growth ahead.
Spirit is also focused on investor return, Baldanza noted. He said that right now, the best use of the company's cash is to grow its business, which it has been doing. But in the future, other returns for shareholders are certainly possible.
Cramer said that in addition to be the funniest airline, Spirit is also making the most money.
In the Lightning Round, Cramer was bullish on
Plains All American Pipeline
United Parcel Service
Cramer was bearish on
Executive Decision: Steve Tanger
For his second "Executive Decision" segment, Cramer sat down with Steve Tanger, president and CEO of
Tanger Factory Outlets
, which operates 43 outlet centers that are currently operating at 98.7% occupancy rates. Shares of Tanger yield 2.7%.
Tanger said his outlet centers still have room to grow, thanks to tenants that are prospering and a low cost of occupancy rate that allows his company to gradually raise rents over time. While many of his centers are technically full, Tanger noted that every one has a waiting list. So if any tenants were to leave, there are others willing to pay even more to replace them.
When asked why a high-end brand would want to open an outlet store, Tanger said he has a 33-year history of working with the best brands, and there are many reasons why a retailer would want to open an outlet location. He said every store has excess inventory it wants to move and having an outlet store allows it to do so at 30% to 50% off retail prices. Those discounts allow retailers to expose their brands to new customers.
Turning to the upcoming holiday season, Tanger said he's optimistic. He said his tenants are excited and have a good assortment of merchandise ready to be bought.
Cramer said Tanger offers investors both yield and growth, and he remains a fan.
Off the Tape
In his "Off The Tape" segment, Cramer sat down with James Park, CEO of the privately held
, which makes wearable health and fitness trackers that connect to your smartphone and turn fitness into fun. While many have entered the wearable computing market, Fitbit was first to market in 2009.
Park said Fitbit is ushering in a new generation of health devices, one that wouldn't be possible with cloud services to host data. Fitbit was one of the pioneers in the space, he said, which gives it a strong leadership position. The company currently sells its products at over 30,000 locations around the globe.
Fitbit is also making inroads into corporate America, Park said, as 30 of the Fortune 500 companies have added Fitbit into their corporate wellness programs.
When asked about financing, Park said his company has raised $66 million in venture capital thus far, but is in no hurry for an initial public offering just yet. The company continues to grow and Park noted that Fitibit is hiring from sales to engineering and everything in between if anyone wants to join the fitness revolution.
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-- Written by Scott Rutt in Washington, D.C.
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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.
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