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NEW YORK (TheStreet) -- How was the market finally able to stage a back-to-back, two-day rally? Jim Cramer told his Mad Money viewers Monday that today's strength wasn't caused by a Warren Buffett 'halo,' nor a top in the dollar, nor a renewed interest in growth stocks. It was a combination of all three.
Put simply, when billionaire investor Warren Buffett speaks, the markets just feel better. The Oracle of Omaha preaches good, old-fashioned investing fundamentals, like doing your homework, buying stocks at the prices you want to pay and investing for the long term.
Then there's the U.S. dollar, which seems to have finally topped. That's great news for international and industrial stocks because a dollar tailwind could make all the difference for these names.
Finally, there's been a renewed interest in the high-growth stocks like the biotechs. Stocks like Cognizant Technologies (CTSH), Taser Int'l (TASR) and Wynn Resorts (WYNN) were all up on the day, with others like Buffalo Wild Wings (BWLD) bouncing back from recent declines and Shake Shack (SHAK) mounting a sizable short-squeeze that sent shares up 6.9%.
Add them together and you've got a perfect recipe for a continued rally.