The failure to pass new health-care legislation isn't enough to derail the post-election rally, Jim Cramer told his Mad Money viewers Monday. In fact, most of the stock market's rally has nothing at all to do with Trump or his agenda.
Cramer said the market's rally began not because Trump won the election, but because Hillary Clinton -- seen by many as anti-business and pro-regulation -- lost.
But then Trump announced his plans for lower taxes, repatriation and deregulation -- and market soared even more.
Those gains were followed by strong employment numbers, which spurred the Federal Reserve to raise interest rates, helping the banks. Then the market began to notice that it wasn't just the U.S. economy heating up; economies around the globe were gaining steam as well.
So while some see the failure of the Republican's health-care plans as a major setback, Cramer said the swift failure only makes it more likely Congress will double down on things they know will pass.
No one likes taxes, after all, and unlike the health-care issues, Trump has excellent economic advisers to guide him regarding tax reform.
But beyond Washington, companies are in control of their own destinies. Today, Red Hat (RHT) and Darden Restaurants (DRI) , rose a quick 4.7% and 3.8% respectively -- just the latest examples of improving earnings.
Then there's deregulation, which is only beginning to materialize. Under Obama, there were 25 rules passed for every one piece of legislation. Under Trump, those numbers may be reversed, as rules don't require Congressional approval to repeal or replace.
All these are reasons the markets didn't crash after Friday's drama in Washington. It's also the reason the markets will likely continue to head higher.
Now Let's Go Shopping
Now's the time to load up on high-quality stocks that are trading well below where they deserve, Cramer told viewers. And if history is any guide, it's time to buy some Accenture (ACN) .
Cramer said Accenture is an extremely well run company that helps other companies harness technological change. They engineer solutions in all of the red-hot areas of tech, including the cloud, digital, mobile and security.
Yet Accenture has a pattern of reporting strong but imperfect quarters that send shares sharply lower, only to rebound later. When the company reported last week, the pattern played out again, with a three-cents-a-share earnings beat and raised revenue guidance, but also guidance that was less than some analysts were expecting. Shares immediately sank, but Cramer said he's not worried as Accenture's cloud, digital and security services now account for 45% of revenues.
Investors who bought on last quarter's weakness had sizable gains by this quarter, Cramer concluded, and the same is likely to happen again next quarter.
Turnaround Looming for Occidental Petroleum?
What the heck has been going on with shares of Occidental Petroleum (OXY) ? After peaking at $101 a share in the summer of 2014, it's been all downhill for Occidental, which shares bottoming near just $60 in January.
Cramer explained that Occidental is a huge exploration and production company, with assets all over the globe, including a major position in the lucrative Permian Basin here in the U.S. as well as in the Middle East. Occidental also includes a lucrative midstream business and a chemical division to boot.
But while the company has lots of assets, its November earnings were disappointing: another slight earnings miss and lower production targets. The stock then became a battleground, with multiple analyst downgrades.
Things took a turn for the better recently, however, as two analysts reversed course with back-to-back buy recommendations, calling dividend concerns overblown and saying Occidental can make money in the Permian with $50-a-barrel oil.
Cramer said when everyone is already bearish, your downside is limited. That's why it might be worth speculating on Occidental if you feel oil prices are headed toward that $50-a-barrel target.
Off the Tape: Endgame
In his "Off The Tape" segment, Cramer sat down with Nate Fick, CEO of the privately held Endgame, a cybersecurity company working to level playing field against ever-more sophisticated hackers.
Fick explained that Endgame is an endpoint protection platform that help stops hackers from getting to sensitive information. They can also help companies after an attack has occurred to determine what was taken and how to prevent future incidents.
Fick said that while some areas of our government, like the air force, are on the cutting edge of cybersecurity, overall, our enemies know that we're not organized enough to respond to certain threats. In the case of the DNC election hacking, Fick said that Endgame was able to determine after the fact that their platform would have prevented the incursion.
Endgame currently has a partnership with Accenture, a company which Fick said shares in their world view.
Fick said that companies don't care where attacks originate from, they just want them stopped. But rather than spending a lot and not improving security, companies need to get more focused on only spending where there is value.
Cramer said while Endgame is a private company, they have a fascinating story.
Cramer and the AAP team say "resilience" is the word to characterize this market. Read what they're telling their investment club members about why investors are taking profits and backing away from riskier trades. Get a free trial subscription to Action Alerts PLUS.
In his "No Huddle Offense" segment, Cramer said investors can enjoy their shares of Snap (SNAP) , but they'll be doing so without his blessing.
Cramer said he gets why the analysts were slapping buy ratings on Snap today, the first day they were allowed to do so. The company has an exciting story and 158 million daily users. But, trading at 28 times sales, he simply cannot break his discipline.
Snap, by its own admission, has no path to profits. It's shares also have no voting rights, thus no power to change the status quo. Above all else, Cramer said, Snap competes against Facebook's Mark Zuckerberg, a known ruthless competitor.
For all those reasons, Cramer said he's continuing to steer clear of Snap.
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