Jim Cramer would rather take a look at the stocks that are actually working right now. These are the stocks behind the Dow (Dow Jones Global Indexes: .DJI) closing right on the brink of 18,000 and NASDAQ (NASDAQ: .IXIC) hitting a 15-year high on Thursday.
Especially one like Skechers that has doubled in the past year and could have more legs to run. However, the stock that led the Dow and soared 9 percent on Thursday was Cisco (NASDAQ: CSCO).
Expedia (NASDAQ: EXPE) and TripAdvisor (NASDAQ: TRIP) were the next Powerball winners of the day. Expedia crushed the competition, up 14 percent Thursday after it announced an acquisition of Orbitz (NYSE: OWW). Likewise, Trip Advisor announced excellent earnings, which was crucial for a time when investors were worried about the travel industry slowing down.
Another winning stock on Thursday with plenty more room to run, was Cramer’s long-time favorite stock Skechers USA (NYSE: SKX). Skechers reported on Wednesday and delivered a spectacular quarter with in-line earnings, higher-than-expected revenues and rising gross margins.
To get a real sense of how the economy is doing, Cramer likes to look at companies that produce aggregate products for the construction industry. If a stock like Martin Marietta Materials (NYSE: MLM) can report a remarkably great quarter, than he considers that to be a great sign for the U.S. economy.
Martin Marietta makes crushed stone, sand, gravel, concrete, asphalt and cement for various types of infrastructures, both residential and commercial. It is now the No. 2 play in the U.S. and has major exposure to the Texas market after acquiring Texas Industries last year.
Dominion Resources (NYSE: D) is one of America’s largest gas and electric utilities , and it’s experiencing rapid growth in its natural gas transmission and distribution business.
Xerox Corp (NYSE: XRX): “The last quarter wasn’t that good, but the stock didn’t go down. That usually tells me that good things could be ahead. It should have gone down, I’m not going to tell you to sell it now.”
Tessera Technologies (NASDAQ: TSRA): “Ever since Richard Hill joined the board there the guy made the viewers all of that money on Novellus, it has been such a win. I think it can go higher.”