In this market, the slightest bit of good news can propel a stock higher for days, Jim Cramer told his Mad Money viewers Tuesday. And after 40 years on Wall Street, Cramer said he's never seen a market that moves as slowly as this one.
It seems like every day we discover, or re-discover, stocks that are doing better now that vaccinations are on the rise and COVID-19 might finally be on the run. But with investors continuing to take a cautious approach, some of these revelations are playing out over multiple days. Some stocks are even moving on no news at all.
Monday night, Cramer spoke with Norwegian Cruise Line Holdings (NCLH) - Get Report CEO Frank Del Rio about that company's ongoing battle with the CDC on when cruise lines might be allowed to reopen. Tuesday, despite the fact NCL and other cruise operators are still not able to sail, shares rallied. Shares of Norwegian are up 14% this week alone, despite having not sailed from a U.S. port in almost 18 months. The stock rose 4.61% in regular trade to close at $31.08, and were up another 2.4% in the after-hours session.
Everyone knows the restaurants will do better once the economy reopens, but Tuesday Yum Brands (YUM) - Get Report rallied 3.1% on an analyst upgrade from "sell" to "hold." Shares of Chipotle Mexican Grill (CMG) - Get Report also tacked on another 2.4%.
All of these stocks are slowly boosting the markets higher, Cramer concluded, as investor confidence builds along with our vaccination tallies.
On Wall Street Tuesday, the indexes edged down, a day after equities rallied to all-time highs on optimism about an economic rebound in the U.S.
The Dow Jones Industrial Average finished down 97 points, or 0.29%, to 33,430. The S&P 500, which reached an intraday record earlier in the session, edged down 0.1% and the tech-heavy Nasdaq ticked down 0.05%.
The Dow and the S&P 500 closed at records on Monday after U.S. employers added the most workers to payrolls in seven months and other data offered evidence that the economy was improving.
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Executive Decision: Honeywell International
In his first "Executive Decision" segment, Cramer spoke with John Waldron, president and CEO of Honeywell International's (HON) - Get Report Safety and Productivity Solutions division, along with musician and tech entrepreneur, will.i.am, to discuss the collaboration that led to Xupermask, a new face covering that features both ventilation and filtration with dual replaceable H12 HEPA filters.
Will.i.am said the inspiration for the Xupermask came from his own experience of needing a high-quality mask that offered safety but also style. He said the futuristic design of Xupermask comes straight from the Hollywood designers that helped outfit Spiderman and Black Panther.
Waldron added that Honeywell was able to take Will.i.am's designs and pair them with Honeywell's engineering expertise from decades of producing N95 and N99 respirators. The result was a patented filtration design that provides style, comfort and safety.
Will.i.am said he expects masks will be around long after COVID-19, as they are in many Asian countries. The Xupermask will be available this week at Xupermask.com.
Executive Decision: ServiceNow
For his second "Executive Decision" segment, Cramer also spoke with Bill McDermott, CEO of ServiceNow (NOW) - Get Report, and Ryan Smith, founder and executive chairman of Qualtrics, to discuss their recently-announced partnership.
Smith said that customers know what a good experience looks like and they only want to deal with brands that can offer it. That's why Qualtrics' experience management platform is so valuable.
McDermott added that by combining Qualtrics with Service Now's workflow automation systems, they can now provide an entire system of action that's based on customer sentiment and feedback. The combination creates a loyalty effect that can completely change how companies interact with their customers.
Smith said that with so many companies transitioning to our new post-pandemic world, reliable customer feedback has become more crucial than ever.
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Off the Charts
In his "Off The Charts" segment, Cramer checked in with colleague Tom DeMark to see if the market rally might soon run out of steam.
DeMark first looked at a daily chart of the S&P 500, noting that in both February and March the index saw rallies of 7% that lasted nine days before reversing course. Based on where the market is today, with a 6-day up pattern now complete, he felt there are likely only two or three more up-days left.
The same cannot be said for the Nasdaq, however. DeMark felt this tech-heavy index could see a counter-rally to $347.72 where the Dow Jones Industrial Average and S&P give up their gains and Nasdaq plays catch up.
DeMark also looked at the daily chart of bitcoin, which he felt could hit $66,347, or a 14% gain from current levels, before seeing its next leg lower.
In his "No Huddle Offense" segment, Cramer sounded off on the unrealistic expectations being held by so many new investors. This crowd feels that every stock has to be the next Tesla (TSLA) - Get Report, but unfortunately, that's simply not the case.
Can a shareholder base just all agree to hold the line and never sell? That seemed to be the case with GameStop (GME) - Get Report, but only for a short period of time. Hope is never an investing strategy, Cramer reminded viewers.
In the case of GameStop and AMC entertainment (AMC) - Get Report, the companies are using their unrealistically high share price to issue more stock and bolster their balance sheets. The Reddit crowd might not like these moves, but Cramer said he applauds them, as they give management options to make bold moves to save their companies long term.
Here's what Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Tuesday evening:
MP Materials MP: "This is vital to our new economy and I'm a buyer."
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At the time of publication, Cramer's Action Alerts PLUS had no position in the stocks mentioned.