Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.
Gambling in Macau is still on fire, Cramer told viewers, and that means today's weakness in the casino stocks is a reason to buy, not to head for the hills.
Cramer said anytime you deal with the Chinese government, you need to be prepared for bumps in the road. Today's announcement of new rules to curtail ATM withdrawals in Macau is one of those bumps. The news sent shares of Wynn Resorts (WYNN - Get Report) down 1.6%, Las Vegas Sands (LVS - Get Report) down 2.7% and MGM Resorts (MGM - Get Report) skidding 2.4%.
But Cramer said we've seen this movie before, in December of 2016, when the Chinese also attempted to curtail ATM withdrawals. In the end, those attempts were not as bad as people feared and the stocks came roaring back in the weeks and months that followed.
The important number to focus on is the casino revenue growth in Macau, which rose 17% in February, 18% in March and another 16% in April. ATM withdrawals or not, things are heating up in Macau and that's what investors should be watching.
Of the three, Cramer still liked Wynn Resorts, which is up 11% since he last recommended it eight months ago. MGM is up even more, 20%, over the same time period.
Meanwhile, over on Real Money, Jim Cramer says demand is not beckoning in the oil equation. It's still all about supply. Get more on his insights with a free trial subscription to Real Money.
Cramer and the AAP team are telling their investment club members about several stocks that are catching their attention right now: Apple (AAPL - Get Report) , Arconic (ARNC - Get Report) and Facebook (FB - Get Report) . Get in on the conversation with a free trial subscription to Action Alerts PLUS.
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