Jim Cramer believes investors should identify themes and put money to work accordingly.
However, themes have a shelf life and recent price action in related stocks has led the "Mad Money" host to question whether 3 favorite themes have started to sputter out.
Following are his insights.
Theme #1 - Aerospace
Cramer says that over the past 3 months a perception has developed that there's an inventory glut in the aerospace sector. "It came about due to commentary made in the Boeing call and again in the Alcoa call," Cramer said, with the concerns sending shares of Boeing about 8% lower in 3 months.
Cramer, however, thinks the declines are ultimately an opportunity because he doesn't think the weakness will endure.
"Oil is still high," Cramer noted. "And the airlines have the money to buy new planes for fuel efficiency." Therefore, when Boeing next reports earnings, Cramer fully expects to hear that sales of new planes are robust; and ultimately assuage fears of a glut.
All told, "I think the whole group will take off after Boeing's next report," he said.