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NEW YORK (TheStreet) -- Stocks that start off the quarter strong tend to stay that way, Jim Cramer said on Mad Money Tuesday. Cramer said today's record highs, the 23rd time that's happened in 2014, prove there are broad themes at work and next quarter's profits will be better than expected.
One of those broad themes has been biotech, Cramer continued. Vertex Pharmaceuticals (VRTX) is up 33% over just the past three months, and other Cramer faves Gilead Sciences (GILD) and Celgene (CELG), a stock Cramer owns for his charitable trust, Action Alerts PLUS, continue to roar higher.
Then there's the bull market in autos. Car and truck sales have been outstanding, said Cramer, with General Motors (GM), another Action Alerts PLUS holding, leading that group with its fourth monthly sales beat in a row.
Cramer said he's still a fan of the airlines, with American Airlines (AAL) continuing to be his favorite of that group. He said investors also can't go wrong with restaurants such as Chipotle Mexican Grill (CMG), or cloud stocks including Workday (WDAY) or even cult stocks like GoPro (GPRO), which has risen nearly 20% since its IPO just last week.
Cramer said investors haven't missed any of these moves because the markets will likely provide a pullback in the coming days -- an excellent opportunity to get on board.
With the markets closed on Friday, Cramer offered a special "Speculation Tuesday" segment that highlighted what he called the most speculative, high-risk high-reward stock he's ever mentioned, Globalstar (GSAT).
Cramer said Globalstar operates a network of 36 low-orbit satellites that provides wireless phone and data service to the most remote places on the planet. But Cramer also said he couldn't care less about the satellite phone business -- he likes Globalstar for the wireless spectrum that it owns.