But that was not the case. Sharply better-than-expected earnings reports started trickling down from the travel cohort, and soon it became clear that those who bet against it were in trouble.
“Now, you could argue that all of this is just pent-up demand after travel did indeed drop briefly when Trump’s bans were in effect before the courts halted them,” the “Mad Money” host said.
But the “Mad Money” host believes in the power of experiential spending, and suggested another variable that could be boosting travel’s numbers.
“That money may just be coming out of retail,” he said. “Remember, travel is as experiential as it gets, meaning it’s something you can put on your Facebook page. Retail? It’s just a chore made easier by Amazon. No wonder the travel and leisure stocks have been defying the short-sellers. They’re the exact right place to be.”
In January, Garner said that the price of crude was stuck trading between the mid-forties and mid-fifties. Sure enough, after rallying to $55 in April, oil dipped back down to the mid-$40s on Tuesday.
In her chart tracking West Texas Intermediate crude over the last six months, Garner noticed that two key indicators that show when securities are overbought or oversold put oil in oversold territory.
“On previous occasions, Garner notes that oil eventually rallied out of holes like this one,” Cramer said. “When crude gets … this oversold, she says it’s typically the kiss of a death for a bear market, although oil generally retests its lows or even makes slightly lower lows before rebounding. That’s crucial. Garner suspects this time will be no different.”
Cramer also sat down with Brent Saunders, the chairman and CEO of Allergan, to hear more about how the company’s aesthetic products, like its fat-freezing CoolSculpting technology, are gaining traction with younger generations.
“We’re seeing more young people enter the medical aesthetics [space],” Saunders told Cramer on Tuesday. “We’re seeing it become less…