This rally is all about accidents that didn't happen, Jim Cramer announced to his Mad Money viewers Wednesday. Sometimes, all it takes for stocks to head higher are for fears to be proven false.
What were some of the things investors have been fretting about? Cramer said he heard countless times that we needed to see Dow 20,000 or the market would crash. But it didn't.
There were also fears that portfolio rebalancing and tax-loss selling would derail stocks. That didn't happen either.
For all of the pundits shouting about "peak" autos, homes and planes, all of these sectors continue to be robust -- at least for now.
Then there were the fears about Donald Trump's tweets taking down individual stocks. When Trump tweeted about United Technologies (UTX) - Get Report , it proved to be a buying opportunity. When he tweeted about Boeing (BA) - Get Report ? A buying opportunity. Lockheed Martin (LMT) - Get Report and General Motors (GM) - Get Report ? You guessed it: buying opportunities.
That's why despite all the negativity, Cramer said, pullbacks continue to be chances to buy -- not sell -- your favorite growth names.
Off The Charts
In the "Off The Charts" segment, Cramer checked in with colleague Marc Sebastian to see what the CBOE Volatility IndexI:VIX is signaling about the market's Trump rally as we enter the new year. It's always good to keep your emotions in check, Cramer explained, especially when everything looks rosy.
According to Sebastian, the VIX is calm, trading near 12, and in the period since the election, the relationship between the VIX and the S&P 500 has been normal, with the VIX in decline as the market rose.
Sebastian concluded that last week's 20% spike in the VIX was likely caused by low volume and not something more ominous, as things have returned to normal both Tuesday and today. He also said the VVIX, which measures the acceleration of the VIX, is also in healthy territory at 80.
Cramer asks: What do Henry Kissinger and TJX Companies (TJX) - Get Report have in common? Read what they're telling their investment club members with a free subscription to Action Alerts PLUS.
Decoupling in the Energy Sector
Something strange happened in the stock market Tuesday, Cramer told viewers. The price of crude oil fell, but the stocks of oil companies went higher.
For ages, oil stocks have been linked to oil prices, Cramer said, but with so many U.S. oil producers slashing costs to make money at $50 a barrel oil, it appears these companies can finally stand on their own. The group is also being bolstered by chatter about mergers and acquisition and the OPEC production cuts, which so far appear to be sticking.
Despite these many positives, Cramer said, analysts are still not taking into account the positive effects of a pro-fossil-fuel president. With deregulation and more pipelines, this could be another golden age for U.S. oil and gas producers. That's why Cramer said, "Don't let the analysts talk you out of owning oil stocks."
Executive Decision: Dominion Resources
Farrell said that Dominion is different from other utilities because of its natural gas infrastructure, which includes a new export terminal set to come online later this year. He said in the coming years, gas will grow to about half of the company's earnings.
When asked about the coming Trump administration, Farrell noted that deregulation will help everyone, but the effects of tax reforms have yet to be seen. As for Trump's pro-fossil-fuel stance, Farrell said it will take a long time before any rule changes would affect Dominion's decisions regarding its legacy coal-fired plants.
It will be technology and cheap natural gas that lower customers' electric rates, Farrell said, not necessarily anything Trump can do via executive order.
Cramer said he's liked Dominion Resources for a long time and the company is only getting better.
Executive Decision: MindBody
In another "Executive Decision" segment, Cramer spoke with Rick Stollmeyer, chairman, president and CEO of MindBody (MB) - Get Report , a cloud-based software provider helping small and midsize companies in the wellness industry run their business.
Stollmeyer said that fitness clubs face challenges ranging from scheduling classes to managing and paying staff and accepting payments from customers. MindBody provides one solution that handles all of that, he said. His company has spent $28 million on research and development over the past 12 months to become the leader in this space.
MindBody also has its finger on the pulse of the fitness customer, managing reviews for classes, trainers and fitness centers and aggregating all of that content for consumer portals and apps across the Internet.
When asked about profitability, Stollmeyer said MindBody aims to be profitable this quarter. He said his company makes money via modest subscription fees and also acts as a payments processor, handling $6.2 billion worth of payments.
Cramer said if you're a business in this space, MindBody is a necessity.
In the Lightning Round, Cramer was bullish on Advanced Micro Devices (AMD) - Get Report , Kimberly-Clark (KMB) - Get Report , American Tower (AMT) - Get Report , SBA Communications (SBAC) - Get Report , Costco (COST) - Get Report and Sonoco Products (SON) - Get Report .
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At the time of publication, Cramer's Action Alerts PLUS had positions in TJX and COST.