Cramer’s bullish attitude extends to the stock market as well, as the Dow neared a 200-point gain on Tuesday. He said he’s seen the charts of as many as 50 big-cap companies—Chevron and Chipotle , among others—that look ready to break out.
“It will not take much, maybe a decent employment number,” Cramer said, “to really take this thing off.”
He also called the ISM report “very positive,” saying the list of companies that are hiring makes him wonder how much longer the unemployment rate—presently at 9.5%—can stay that high.
Today’s action comes in sharp contrast to Monday, Cramer said, when traders were putting on short positions in Apple and Amazon.com , and there was “rollover chatter” about the Nasdaq. But look at that index today, up 58 points. He also pointed to Bucyrus International and Joy Global , saying they too were breaking out, “and it’s going to be very hard to contain them.”
Just because Boeing can’t immediately ship its new 787 Dreamliner aircraft, investors seem to be abandoning the stock. That’s a mistake, Cramer said, because the plane will most likely ship next year. And when it does, it will set off a seven-year bull market in aerospace, at the center of which will be Boeing. He said the company and it’s 787 will be a “big 2011 story.”
“Boeing is a very inexpensive stock,” Cramer said. “It could just go and go and go here.”
Cramer also pointed to a research note from J.P. Morgan that highlighted a much-better-than-expected mortgage business for banks. The report focused on larger-cap companies, but Cramer thinks the trickle down effect will reach regional outfits as well. Enough for him to call them “coiled springs.”
Finally, don’t think gold’s rising price is a sign of economic weakness, Cramer said. The increase there is a matter of simple supply and demand: The world craves mores, but there aren’t sufficient reserves to meet that demand. At least not in politically stable countries. As a result, gold prices continue to climb.
So, “We should stop worrying about gold,” Cramer said.
When this story published, Cramer's charitable trust owned Apple and Boeing.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org