Jim Cramer is not a fan of the flurry of initial public offerings that hit the market this week, and not only because the offerings themselves are, as he put it, "suboptimal."
"This is a holiday-shortened week with not a lot of room for any deals. Instead, we have seven. That's far too much and it makes me a little more pessimistic than I'd like to be, because my discipline says don't trust a tape where there's too much supply and it's jammed into the market without enough demand," the "Mad Money" host said.
From a Brazilian airline to a special purpose acquisition vehicle raising money for assets in oil and gas to a coal company to a clinical-stage biotechnology play, Cramer was generally dissatisfied with the week's offerings, seeing most of them as tricky, risky investments.
And, though the IPO market picking up speed is often seen as a good sign, Cramer worries that a flood of subpar names will only result in a short-lived peak.
Still, while businesses are strong and the economy is doing well, Cramer found that Trump trades have evolved drastically since they came to fruition after November's election.
"These days, they're more likely to hurt the bull than help, even though so many companies are doing well," the "Mad Money" host said.
Cramer began with Tuesday's example, straight from President Donald Trump's morning tweet:
"The Trump trade? Buy Gold! Buy Randgold! Buy bullion! Stow it in Switzerland! Hard assets like gold retain their value in times of geopolitical turmoil," Cramer said.
Another approaching Trump trade may also seem unexpected to investors: the April 28 deadline for Congress to raise the debt ceiling.
"The problem is that as much as Wall Street likes Trump's pro-business policies, their potential is already baked into the stock market," Cramer said.
Meanwhile, as the market buzzes about Monday's news that activist investor Jana Partners took up an almost 9 percent stake in Whole Foods, Cramer seems to be the only one asking, "What happens now?"
To many investors, taking profits now may sound tempting, despite Whole Foods stock's 10 percent jump on the Jana news. Competitors like Wal-Mart and Kroger have encroached on he high-end grocery chain's turf by bringing cheaper organic and natural options to their shelves.
Cramer said the best hope for a turnaround — and Jana's possible next move — is "a foreign buyer who wants to take on German Trader Joe's."
The "Mad Money" host also looked into one Cramer fan's stock pick, a surgical guidance systems manufacturer called Mazor Robotics.
Cramer said the Israeli company, whose products help hospitals and surgeons reduce risk, lower costs, and save time, has a "solid growth story," but wondered whether the stock, which has run up massively over the past year including a 30 percent boost year-to-date, can keep delivering.
Although the "Mad Money" host harbored some concern about Mazor's marketing know-how, he could not ignore its position as the only true player in a lucrative business.
"While there are some real risks here … I think Mazor has what it takes, and I am willing to recommend this stock — for speculation, of course — at least until someone else comes up with a better mousetrap. For now, though, that sure hasn't happened," Cramer said.
As Wall Street froths at the prospect of Washington officials cracking down on drug pricing, Cramer took to the charts to sift some promising biotech winners from the noise.
Using the charts of ExplosiveOptions.net founder and TheStreet technician Bob Lang, Cramer unearthed four strong stocks that seem poised to rise above political threats to their business.
The charts of Sage Therapeutics, Celgene, Allergan and Kite Pharma showed the stocks consolidating their gains at higher-than-usual levels, a pattern that suggests they are each building a base.
Cramer's take? "I think the drug pricing issue is a total political red herring, and the charts, as interpreted by Bob Lang, suggest that smoking-hot biotechs like Sage Therapeutics, Celgene, Allergan and Kite Pharma could have a lot more room to run," he said.
In Cramer's lightning round, he flew through his take on some caller favorite stocks:
Valley National Bancorp: "Yes, they did [always use to be buying banks]. They were very acquisitive, and I have to tell you, I happen to like Valley. I think it's a good situation, New Jersey bank, done some business with them at one point, and I think that they are a good buy and I would hold on to that understanding that the banks are under a great deal of pressure because interest rates are so low."
AxoGen: "That's regenerative medicine, and I've got to tell you, that stock has had a major, major move and that is an incredibly difficult area. That's why I would say ka-ching, ka-ching on at least half."
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