Cramer: Expect the opposite for growth stocks

Jim Cramer sees an intense love affair with value stocks. Unfortunately, growth stocks have been kicked to the curb as part of a vicious stock rotation, and it could be just beginning.

"What is incredible is that it doesn't even seem to matter how bad the deep cyclicals are or how good the growth stocks are. They are going to go in divergent directions when they report," the "Mad Money" host said.

When Southwestern Energy reported, Cramer didn't see anything he liked from the company. Yet, it seems to have survived the downturn in the price of natural gas fairly well, better than Cramer would have thought a few months ago. Investors agreed, and the stock rose 15 percent Friday.

The action in Southwestern instantly triggered everything around it, ranging from natural gas to oil master limited partnerships.

"I think that at this pace, with oil up again … we are going to start seeing takeovers of both oil and gas companies before their stocks get away," Cramer said.

Oil worker working on an oil rig
Joe Raedle | Getty Images
Oil worker working on an oil rig

Another group that represented deep value were the banks. On Friday SunTrust reported better than expected earnings, and the group continued the rally.

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Cramer also pointed to the rails as representing value. He recommended that if things continue to get better, both Norfolk Southern and Union Pacific could have monster moves.

As for growth companies, it doesn't matter how well these companies do — Cramer says the stock is going down.

This was evident on Thursday to Cramer in how the market reacted to the quarters of Starbucks, Visa and PepsiCo.

"I think the momentum right now can keep this action happening, as long as commodities — especially oil — continue going higher," Cramer said.

Ultimately, the strength in oil signals worldwide demand, and Cramer says it is still the first inning for that turn.

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