The improving U.S. economy, not Trump, is the reason the stock market continues to rally, Jim Cramer told his Mad Money viewers Tuesday.
So while the money managers and pundits continue to warn that a big market correction is coming, Cramer said he's focusing on everything that's going right.
Cramer admitted that overall, Donald Trump hasn't been the most predictable of presidents. But when it comes to Trump's economic goals, he's been remarkably consistent.
Repatriation of overseas funds makes a lot of sense, Cramer argued, as does corporate tax reform. Tariffs could indeed be bad, he said, but not for those joining the workforce because of them, and our economy is strong enough to handle a little inflation and some short-term deficits.
As for stocks, Cramer argued that valuations aren't at perilous levels given the strong earnings we've seen. The markets are also not acting irrationally.
Could things go horribly wrong? Of course they could, Cramer concluded, but that's been the case every day, which makes it a poor investing strategy.
Meanwhile, on TheStreet.com: Cramer says Trump is unpredictable, but that's not a good reason to sell. It might be a great reason to buy. Check out Cramer's strategies with a free subscription to Real Money.
Cybersecurity stocks: Are they safe?
After spending most of 2016 in the doghouse, the cybersecurity stocks are roaring back to life, Cramer told viewers, which means a reordering of the group is now in order.
Cramer said the new top cybersecurity stock to own is Check Point Software (CHKP - Get Report) , which recently posted a monster 21-cents-a-share earnings beat on a 6% rise in revenues with strong guidance.
Investors in Check Point are admittedly a little late to the party given the stock's strong performance in 2017, Cramer said, but shares are still worth owning.
Next on Cramer's list was CyberArk Software (CYBR - Get Report) , protectors of privileged network accounts. Cramer said this stock has also been on fire, so he'd wait for a pullback before moving in.
Finally, Cramer said, investors looking for a value name can consider the former market leader, Palo Alto Networks (PANW - Get Report) , which after declining 29% in 2016, is back up almost 20% so far this year. Palo Alto trades at 41 times earnings, but sports a 30% growth rate, which makes shares attractive.
Executive Decision: Centene
For his "Executive Decision" segment, Cramer spoke with Michael Neidorff, president and CEO of Centene (CNC - Get Report) , the managed care provider that just posted an eight-cents-a-share earnings beat with robust guidance this morning.
Neidorff said that there are too many people looking for a bearish story with Centene, which is why there's "nothing like hitting the numbers" to prove them wrong. He said despite the rhetoric in Washington about repealing the Affordable Care Act, it's still business as usual at Centene and they continue to provide high quality care at reasonable prices.
When asked about proposed changes to our health-care system, Neidorff said that Centene is well positioned and flexible enough to meet whatever challenges may arise.
The slow death of the shopping mall
The slow death of the shopping mall claimed another victim today, as shares of accessory maker Michael Kors (KORS) slumped by 10% because of, you guessed it, weak department-store sales.
There's a secular shift in how Americans spend money, Cramer reiterated, and that means companies like Newell Brands (NWL - Get Report) , Hanes Brands (HBI - Get Report) and countless others need to adjust their game plans -- and fast.
The eventual demise of Sears Holdings (SHLD) will also spell trouble for many brands, at least initially. Sports Authority's liquidation last year sent ripples through the supply chain until excess inventory was dealt with and Sears is far larger.
Cramer said that for brands to survive, they need to change their strategy -- as toymaker Hasbro (HAS - Get Report) has done by moving toward entertainment. For everyone else, however, the risks are too great, which makes the whole group un-investable.
Off the Charts
In the "Off The Charts" segment, Cramer checked in with colleague Tim Collins regarding the charts of some old-school tech names, Cicso Systems (CSCO - Get Report) , an Action Alerts PLUS holding, Jabil Circuit (JBL - Get Report) and Oracle (ORCL - Get Report) .
Collins noted that Cisco, which reports next week, has been trading in a channel since July and is likely to either break out, or break down, on earnings. He cited a new metric for "Mad Money" viewers, the Chandelier Exit, which indicated that it's not yet time to sell, meaning a jump to $34 or $35 a share might be in the cards for Cisco.
Jabil Circuit also has been trading sideways, but is now displaying a cup-and-handle formation. With the Chaikin money flow oscillator and the stochastics both signaling that the stock is not in dangerous territory, Collins felt that above $24.50 a share would be a buy, but below $21.50 would be a no-go.
Finally, Collins felt that the weekly chart of Oracle has some positives brewing behind the scenes as this stock is trading near its $40 ceiling, also with a strong Chaikin and stochastics.
Cramer said while these names may lack the appeal of other hot tech names, on a technical level they're looking at lot better than they have in recent memory.
In the Lightning Round, Cramer was bullish on Barclays (BCS) , Banco Santander (SAN - Get Report) , UnitedHealth Group (UNH - Get Report) , MindBody (MB) , New York Community Bancorp (NYCB - Get Report) , Amgen (AMGN - Get Report) and Franks International (FI - Get Report) .
Cramer was bearish on Express Scripts (ESRX) .
Cramer and the AAP team are telling their investment club members to get energized with a new position: Cimarex (XEC - Get Report) . Get in on their discussion of why this is a perfect entry point -- Get a free subscription to Action Alerts PLUS.
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