(Click for video linked to a searchable transcript of this Mad Money segment)
What will the nasty forces in this market do to you next? The magnificent seven may help you fight back.
Oh wait, we're not talking gunslingers.
By magnificent seven Cramer means the seven stocks have defied the broad market weakness and surged to new highs during this earnings period.
They are Under Armour, Netflix, Wynn, Facebook, Google, Chipotle, and Michael Kors.
In addition to rallying, Cramer says these stocks share some common themes. They all delivered better earnings, better sales and better guidance. In this environment of uncertainty, Cramer says the Street will reward nothing less.
Therefore, if and when the market turns lower – and Cramer does believe there's more selling to come – he suggests putting money to work in the stocks listed above. "In the event of a snapback rally, I think these stocks will be the new leaders."
Following are Cramer's insights on each of the magnificent seven stocks:
Under Armour: Cramer said that investors were cautious about Under Armour results, considering many retailers have not performed well this earnings season. Yet, "Under Armour delivered earnings and sales that were substantially in excess of even what the most bullish analyst was looking for," Cramer said. "Plus the company's expanding internationally, aggressively in China by the way, with a management team that makes the Seahawks look like sissies with their take no prisoners attitude." That should drive shares for some time to come.
Netflix: "Going into the quarter there were outrageous expectations for new sign-ups, and talk of Netflix actually losing money," Cramer said. "So when Netflix reported sign-ups growing at an accelerated rate and guided up from there, the short-sellers betting against the company had no case. That meant they had to buy the stock back, just a total spoiled short. There wasn't a thing wrong with the quarter. Nothing." As Cramer so often says, although the multiple is big, the opportunity is bigger.
Wynn: Cramer said the Street was worried about how China might impact the bottom line at Wynn. "But Wynn blew estimates out of the water with huge Macau numbers. How many? Enough for Wynn to announce some huge expansion plans." Cramer believes that China is the big x-factor in the market and any company that can leverage the opportunity should be looking at considerable upside.
Facebook: Cramer thinks Facebook is an example of a company leveraging social, mobile cloud and connectivity. "They substantially beat earnings and sales estimates, guided well beyond levels thought possible, and explained that there's accelerating revenue growth to come from the implementation of a bunch of new programs that both advertisers and users love." Cramer thinks that's a recipe for higher share price.
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Google: Cramer sees Google as another company leveraging social, mobile, cloud and connectivity. "After this last quarter, I think Google can write its own ticket," Cramer said.
Chipotle: Cramer thinks Chipotle has a long runway due to its ability to leverage two trends, the migration toward healthier eating and the Street's insatiable desire for growth. "Chipotle reported that it had 9.3% comparable store sales growth. When I saw it I thought it was a typo. Accelerating same store sales growth—no other restaurant I follow had such a thing."
Michael Kors: This stock is an example where the numbers speak for themselves. "We thought that handbags and accessories were losers this holiday season. We thought high priced handbags like those made by Michael Kors were a shrinking category. But you can't produce 24% same store sales growth in the U.S. and 73% in Europe unless you're executing brilliantly, and KORS most certainly did."
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