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In fact, exactly a year ago the stock market entered a massive tailspin that was eclipsed only by the worst days of the 2008 financial crisis. Investors fretted over the stock market collapse in China, plummeting oil prices and a Federal Reserve that seemed hopelessly out of touch with reality.
But Cramer reminded viewers that since those fateful days last year, the market has only seen gains. The world didn't end after all. The Chinese government put the brakes on short-selling and managed to eek out a respectable 6% GDP growth. Oil companies didn't go bankrupt but survived and recapitalized.
Some investors are still crying foul, Cramer admitted, but those sentiments fall in the face of strong home sales and a Nasdaq at all-time highs. Better still, there aren't just a handful of stocks leading the markets but all sectors are seeing gains.
Off the Charts
In the "Off the Charts" segment, Cramer checked in with colleague Bob Lang over the charts of the retailers after many reported stronger than expected earnings.
Lang first looked at a daily chart of the SPDR S&P Retail ETF (XRT - Get Report) , noting a "W" bottoming pattern in May and June, which represented the perfect buying opportunity. Since then, the ETF has tested its 200-day moving average and has made a golden cross, which the 50-day moving average crosses over the 200-day.
Cramer said he's not a fan of sector-based ETFs and would rather own only the best stocks in any sector.
Lang next looked at Nike (NKE - Get Report) , which was in a downtrend after the closing of Sports Authority earlier this year, but has since made big moves with the MACD momentum indicator now signaling a bullish crossover. Lang felt another 10% gain in Nike was possible.
Lang was also bullish on Nordstrom (JWN - Get Report) , a stock that was clobbered in April and May, but has also signaled a "W" bottom and now displays a bullish pennant pattern. The Chaikin Money Flow, or CMF, also just turned positive for Nordstrom.
Finally, Lang singled out Gap Stores (GPS - Get Report) , which has been churning higher since May, making higher highs on strong volume. Lang noted the CMF and MACD both confirmed the bullish action, but he also felt the stock would be hard-pressed to break its ceiling of resistance at $30.
Executive Decision: Ken Powell
Powell said General Mills has been working hard to remove artificial colors and flavors from its cereals and the response has been both fantastic and almost instantaneous. As soon as the artificial ingredients were gone, sales went up, he said. Customers want clean, simple food with simple ingredients, Powell said, and General Mills is listening.
Powell also commented on his company's cost-cutting efforts, saying the company has been borrowing the best ideas from around the globe and has been reducing complexity, implementing smarter pricing and introducing better technology in its plants. Best of all, "there's still more to go," Powell said.
Turning to his company's stock, Powell said General Mills listens to investors and has been committed to both its dividend and buying back stock. Powell is not opposed to more acquisitions if those acquisitions are the right fit for his company.
Executive Decision: Greg Silvers
In his second "Executive Decision" segment, Cramer sat down with Greg Silvers, president and CEO of EPR Properties (EPR - Get Report) , the entertainment real estate investment trust with a stock that's up 35% for the year and sports a 4.9% dividend yield.
Silvers said that in a low-interest-rate environment, REITs with consistent dividends are becoming more and more valuable to investors. He said our economy of things is evolving into an economy of experiences and activities that fit perfectly into EPR's portfolio of properties.
EPR currently has 25 movie theaters in its portfolio and Silvers noted that luxury seating with more food and beverage options are expanding the movie goer demographic at a time when the total number of theater seats is actually contracting, making each one more valuable.
Unlike many sectors of our economy, Silvers said experiences cannot be eclipsed by the Internet and his team focuses exclusively on their areas of expertise.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer applauded those companies who put their money where their mouth is and make a statement with huge stock buyback programs.
Case in point: General Mills, which has retired a full 8% of its outstanding shares since CEO Ken Powell took the reigns. Then there's home builder Toll Brothers (TOL - Get Report) , which reduced its share count from 184 million to 173 million shares. Finally, Best Buy (BBY - Get Report) is a consistent buyer of its own shares.
Cramer said sometimes companies issue buybacks to boost their earnings per share or because they have run out of ways to spend their cash organically. But when a CEO makes a statement that the share price is just too low, those are the buybacks Cramer likes best.
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