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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Home Depot (HD) and Lowe's (LOW) : Looking for a bright spot in the markets? You may not have noticed, but home buying levels have finally returned to 2006 levels, and unlike 2006, everyone getting a mortgage today is actually qualified to have a loan. Additionally, home prices are rising, smartly, year over year, finally dispelling the notion that owning a home is the quickest way to lose your shirt.
With over two million new households expected to be created this year thanks to an improving job and housing market, Cramer said home builders will once begin to start developing all that land they've been hoarding these past few years.
What does all this good news mean for stocks? The obvious choice remains Lowe's and Home Depot, Cramer concluded, because spending money on your home has just flipped from being an expense to an investment.
Nike (NKE) : Just when you thought all was lost in the stock market, Nike reminds us why we invest in the first place. Last week, Nike blew away the estimates with a 16-cents-a-share earnings beat on 14% revenue growth on a constant currency basis. Even in China and Europe, where everyone else says sales are sluggish, Nike managed to deliver.
Nike remains a global powerhouse thanks to its continued innovation. With new products like its ulta-light but ultra-strong Flyknit shoes, to its new apparel products with space-age, high-performance fabrics, Nike's only remaining competition appears to be Under Armour (UA) , and there's more than enough room for both companies.
Nike even scored a win with its Air Jordan shoes, first introduced in 1984, that continue to sell for upwards of $225 a pair. Add to that a direct-to-consumer business up 15% and an ecommerce division racking up $1 billion in sales and its easy to see why Nike remains the king of athletic apparel.
Yet, despite its many positives, shares of Nike still trade at just 23 times 2016 estimates, leaving plenty of room for shares to trade still higher as the company transcends any and all perceived weaknesses.
G-III Apparel (GIII) : Investors looking for a fabulous family-run business that also happens to be a great value should take a peek into G-III Apparel (GIII) , a stock that's up 40% so far in 2015 and over 200% in just the past two years.
Cramer called G-III one of the most under-estimated companies out there, thanks in part to its non-promotional nature and its unique family-run nature that makes it hard for Wall Street to fully appreciate.
G-III started off as licensing brand name apparel, both in the fashion world as well as with many pro sports franchises. But the company has also begun buying up unwanted brands, most recently Bass footwear for $50 million.
In just a short time, G-III has been able to leverage the Bass brand to create value, selling items both in the wholesale and retail channel and reinvigorating the brand with new products and extending it with mens' apparel. G-III last reported that same store sales for Bass increased 17% as a result.
Shares of G-III trade at just 22 times next year's earnings, despite having a 19% growth rate. That makes G-III a must buy on the next market pullback in Cramer's book.
Receptos (RCPT) , Alder Biopharmaceuticals (ALDR) and Radius Health (RDUS) : Investors looking for stocks immune to the global chaos need to consider the biotechs, a group that doesn't trade on global politics, but rather on future unmet medical needs.
Cramer said his favorites among the speculative biotechs includes Receptos, an immunology company developing one drug which may be able to combat multiple diseases such as multiple sclerosis and Crohn's disease, among others.
Also making Cramer's list was Alder Pharmaceuticals, a company working on drugs to treat chronic migraines and arthritis. Alder trades on its latest clinical trial data, Cramer noted, and not on the latest Greek negotiations.
Finally, there's Radius Health, a company working hard to treat bone density diseases like osteoporosis.
All of these stocks don't often pull back and give investors a good entry point, Cramer concluded, but thanks to Greece, that's just what we may get in the coming days.
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