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Let's face it, the markets are up big, and in a very short period of time, Cramer told viewers. That means investors should be more critical and more skeptical of high-flying stocks. But in the case of Activas (ACT) , the company making a $66 billion bid for Allergan (AGN) , shares continue to rise, up 11% since the deal was announced, even though the company is admittedly paying more than it should.
Cramer said it takes years for some stocks to make the move that Activas has made in just days, yet investors continue to pile in.
Investment management firm Blackstone Group (BX) has been selling off lots of assets recently, including big stakes in Pinnacle Foods (PF) and Hilton Worldwide (HLT) . Should that give investors pause? Or is selling off assets exactly what an investment firm should be doing? Cramer said the markets aren't thinking twice, they think it's bullish.
Cramer said this unwavering bullishness continues in the airlines, health insurers, manufacturing and even in the biotech sectors, which is why he continues to recommend stocks including 3M (MMM) , UnitedHealth Group (UNH) and Celgene (CELG) .
Cramer said his bottom line was that he wants to be more critical of all these moves, but being critical just isn't making any money at the moment.
Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleague Bob Lang over the chart of Amazon.com (AMZN) , the Internet retail giant that historically delivers big profits for shareholders between November and the end of the year.
Using a weekly chart, Lang noted that for four of the past five years, Amazon has rallied hard going into the holidays. The only exception was 2012, when worries over the fiscal cliff put coal in everyone's stocking.
Turning to a daily chart, Lang also noted that Amazon has already rallied hard off its October lows and briefly broke above its 200-day moving average last week before taking a quick breather. This move was made on strong volume. The MACD momentum indicator shows a "bullish crossover" that confirms the move.
The weekly chart of Amazon is also bullish, showing a double bottom in April and October, a pattern that is usually a springboard to higher levels. While the MACD on the weekly chart hasn't yet made a bullish cross, Lang indicated it's very close.
According to Lang, Amazon's move will likely spawn more buying, sending shares to $358. Cramer said he thinks Lang is right and betting against Amazon during the holidays has never been a good move.
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