There were lots of buyers waiting for yesterday's big selloff, Jim Cramer told his Mad Money viewers Thursday. That's why today, the growth hounds were back and snapping up all the bargains they could find without hesitation.
We're following the classic selloff playbook, Cramer explained, with Day One flushing out the hedge fund managers, the scared retail investors and those that were highly margined.
Then today, on Day Two, the growth investors appeared, believing that their stocks had nothing to do with yesterday's decline and were simply collateral damage.
Which stocks were in high demand? Cramer said investors were clamoring for tech, including anything to do with social, mobile, the cloud or AI.
Cramer said if the selloff playbook continues, Day Three will see strength in the industrials and the consumer packaged goods stocks.
Meanwhile, over on Real Money, David Yoe Williams says to enjoy the gold rally; it's just getting started. Get more on his insights with a free trial subscription to Real Money.
Executive Decision: Salesforce
For his "Executive Decision" segment, Cramer spoke with Marc Benioff, chairman and CEO of Salesforce.com (CRM) , the cloud computing giant with shares up 28% for the year. Salesforce just posted a two-cents-a-share earnings beat.
Benioff said there were a number of factors that led to Salesforce's amazing numbers this quarter, including some big customer wins and the fact that they continue to crush the competition. A recent IDC study confirmed Salesforce is growing their lead against big-name rivals.
Benioff also touted some of Salesforce's biggest partnerships, which include Amazon.com's (AMZN) web services, Visa (V) and IBM (IBM) , where Salesforce is helping the company transform its customer service experience.
In addition to those many positives, Benioff was upbeat about his company's recent acquisition of DemandWare. He said that deal has gone well beyond his expectations.
It's Amazon vs. Walmart
Is anyone able to challenge Amazon? Cramer said it's doubtful, but there is one company that's got the scale and the will to make it a two-horse race, and that's Walmart (WMT) .
Younger investors might forget that before Amazon, Walmart was the undisputed king of retail and devoured anyone that got in its way. Walmart has the scale to offer a larger variety than anyone and to negotiate with suppliers to ensure the best prices.
Walmart embarked on a new digital strategy in January 2015, making big-time investments into e-commerce, including $900 million in 2015 alone. The company then purchased Jet.com in 2016 for $3.3 billion to further bolster its online offerings.
Walmart now offers over 50 million items online, up from just 10 million items just a year ago, and it has online sales up 63% in just the past quarter alone. Walmart also has something Amazon doesn't have, local stores with perishable grocery items.
So can Walmart really beat Amazon? Cramer said probably not, but then again, the company doesn't need to beat Amazon. Simply making it a two-horse race would be a victory in and of itself.
Executive Decision: U.S. Concrete
In his second "Executive Decision" segment, Cramer sat down with Bill Sandbrook, president and CEO of U.S. Concrete (USCR) , a stock that's up over 40% since the election, thanks in part to a monster 42-cents-a-share earnings beat this quarter.
Sandbrook said that America is growing, which can be seen by the 22% jump in revenues this quarter and their growing backlog of business. He said U.S. Concrete doesn't need Trump's infrastructure plans to thrive; there was a lot of spending at the tail end of the Obama administration and the states are picking up the rest of the slack.
U.S. Concrete is working on some of the largest construction jobs in the country, including for Facebook (FB) , Alphabet (GOOGL) , Workday (WDAY) and others. In New York City, the company is working on improvements at LaGuardia airport, where new runways and terminals require plenty of concrete.
Sandbrook said that U.S. Concrete also has special skills and not many companies can provide the types of concrete needed for bridges and other similar projects.
With more spending expected in 2018 and beyond, Cramer said U.S. Concrete is a terrific story.
In his "No-Huddle Offense" segment, Cramer said sometimes it pays to think outside the box, and sometimes its better to think opposite the box.
What is opposite the box? How about the Republicans and Democrats both agreeing that Robert Mueller should lead the investigation into Trump and Russia? Cramer said the market hates uncertainty and with Mueller, we'll finally get closure on this issue one way or another.
Once this issue is put to rest, Cramer said we can move onto actual governing, with important issues like tax reform and repatriation. The end of uncertainty and less turmoil will be a welcome addition to the stock market.
On a recent call with his AAP investment club members, Cramer said that a Trump administration proposal to ban laptop computers on airline flights to the U.S. could be "the single greatest thing that could happen" to Apple (AAPL) . Read more and get a free trial subscription to Action Alerts PLUS.
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