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The Trump rally is still not over, Jim Cramer told his Mad Money viewers Monday, it's just morphing into a whole new kind of bull.
That's the only explanation for how the stocks of FANG -- Cramer's acronym for Facebook (FB) , Amazon.com (AMZN) , Netflix (NFLX) and Alphabet (GOOGL) , formerly Google, can rally along with Diamondback Energy (FANG) .
Cramer said the first wave of the Trump rally sent the bank stocks soaring on the hopes of less regulation, the industrials on hopes of increased infrastructure spending and the drug stocks on hopes of less talk about price gouging.
But this second wave is a whole new animal, one that has enough new money coming into the market to lift all of these sectors AND the tech sector.
Indeed, today saw shares of Facebook, an Action Alerts PLUS holding, up 4% on the heels of the company's $6 billion stock buyback. It's also propelled Amazon up 2.6% and Netflix up 2.3%.
Then there there the other "fang," Diamondback Energy, whose stock soared 3.4%. Cramer said Diamondback's rise should come as no surprise given the company's 30% production growth and the new optimism Trump has shed on fossil fuels.
Today was the first day where both FANGs could rally at the same time, but it likely won't be the last, Cramer concluded, as the attitude for stocks as an asset class appears to be improving by the day.
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