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FANG has been the leader of the market but took a nosedive with the rest of stocks in this week's selloff. So, now that they have bounced back, Cramer can see investors salivating to sell their positions and take a gain.
Cramer thinks that is a bad idea.
The "Mad Money " host knows that he walks a fine line with making a call on FANG. And although they have been fabulous performers since he crowned them, he is not ready to declare victory and tell everyone to sell.
"If you champion Facebook, Amazon, Netflix and Google and one of them goes off the rails, you're going to be a multiyear YouTube train wreck," Cramer said.
He went down the list for each stock to make the case as to why they shouldn't be sold, yet.
Cramer thinks Facebook is one of the fastest growing, most consistent companies ever born, and it could easily earn $3 per share next year. Given the fact that it is growing at about 30 percent a clip, Cramer is not willing to advise to sell it when it trades at just one times its growth rate.
Ultimately Cramer thinks Facebook could go to $100, which is why he owns it in his charitable trust.
Amazon is a tough call for Cramer, as he has no valuation parameters to fit the stock. The company deliberately suppresses its earnings power by spending lots of money to expand its retail dominance.
Until it finally shared the potential profitability of their Amazon Web Services business, Cramer was skeptical. Not anymore, though, as he still considers Amazon to be a bargain.
Cramer has made the same case for Netflix for three years now, and he still stands by it. The market capitalization is too small for the opportunity that it represents. It could triple the price of its service each month, and people would still love it.
Ultimately Cramer thinks Netflix could be worth $100 billion judging by its subscriber growth trajectory and the amount of money it could charge.
As for Google, until its recent reorganization, Cramer considered this stock to be a plaything of managers to act like it was a private company. All of that changed when it appointed a new CFO, Ruth Porat. Cramer has confidence that it could be one of the fastest growing companies on Earth and with a cheaper valuation to its peers.
So while some may think that FANG defines the market top and advocating picking apart these stocks, Cramer does not agree.
"I still like them, and I will keep defending them because I believe they can go higher," Cramer said.