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This market is full of "mini bulls" stampeding higher, Jim Cramer told his Mad Money viewers Wednesday, even when you least expect them. There are so many mini bulls, in fact, that even the bears from this past January can't keep them at bay.
What's working? Cramer said the technology is working, even in the face of Apple's (AAPL - Get Report) weakness. Today Facebook (FB - Get Report) , a stock which he owns, along with Apple, for his charitable trust, Action Alerts PLUS, reported a picture-perfect quarter that sent shares up 8%. Cramer also noted that even Apple's suppliers are rallying.
Then there's oil, with Exxon Mobil (XOM - Get Report) announcing a dividend boost on the same day the company lost its AAA credit rating. The banks also continue to surge, with JPMorgan Chase (JPM - Get Report) and Wells Fargo (WFC - Get Report) , another Action Alerts PLUS holding, poised to do well in a rising interest rate environment.
Finally, there are the rails and the industrials, two groups Cramer has championed for weeks as the global economy continues to show signs of strength.
All of these sectors represent mini bulls, Cramer concluded, and none of them look like they're slowing down anytime soon.
Executive Decision: Sally Smith
For his "Executive Decision" segment, Cramer sat down with Sally Smith, president and CEO of Buffalo Wild Wings (BWLD) , which just delivered a 4-cents-a-share earnings miss with a 2.4% decline in same store sales. The company also cut its full-year guidance.
Smith said there wasn't one big thing hampering results but a lot of smaller things. She noted that guest metrics are still strong, but guests just haven't been coming into the restaurants as often as they had been.
When asked for details, Smith said this year's NCAA basketball tournament was not as robust, with a few games airing later in the evening, some smaller school matches and less overtime play. But overall, she said the consumer was just not as robust this quarter.
There have also been a lot of restaurant seats added this year, Smith noted, which is making for a more promotional environment for all restaurants.
Smith said she's excited for the upcoming soccer season and is also encouraged by strong takeout sales.
Don't get caught up in the so-called "Tech Wreck," Cramer urged viewers as he reminded them that panic should never be an investment strategy. Instead, he looked at each of the major tech stocks to see what's really going on.
Finally there's Apple. Cramer said Apple is a victim of its own success and needed the giant reset of expectations that management provided. The stock is too cheap to sell but not cheap enough to buy, he said. The company will, however, figure it out in the end, Cramer concluded.
Executive Decision: Jack Hartung
Hartung said Chipotle's sales bottomed in January and have been slowly recovering ever since. The company continues to believe in its future and remains committed to its stock buyback program as a way to increase shareholder value.
Hartung said the company is continuing to refine procedures both at its suppliers and in its restaurants to ensure great food that's both healthy and safe. After moving the preparation of lettuce and peppers to centralized kitchens, Chipotle is once again returning these items to local restaurants for the utmost freshness.
Hartung said it is certainly possible to have great ingredients and freshly prepared food while still ensuring safety, and that's what customers will see when they visit Chipotle.
Cramer continues his support for the company.
In the Lightning Round, Cramer was bullish on American International Group (AIG - Get Report) , Chubb (CB - Get Report) , Vector Group (VGR - Get Report) , Medtronic (MDT - Get Report) , Baxter International (BAX - Get Report) , Boston Scientific (BSX - Get Report) , Edwards Lifesciences (EW - Get Report) , Norwegian Cruise Line (NCLH - Get Report) , Southwest Airlines (LUV - Get Report) and WestRock (WRK - Get Report) .
No Huddle Offense
In his "No Huddle Offense" segment, Cramer threw cold water on on the thesis that aerospace is weakening.
Sure, the airlines, outside of Southwest Airlines (LUV - Get Report) , posted weak results, but then General Electric (GE - Get Report) posted strong numbers in aerospace, followed by Honeywell (HON - Get Report) and Lockheed Martin (LMT - Get Report) .
All of this leads Cramer to believe that aerospace is alive and well, despite what the bears were predicting.
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