Strong stock performances in the high-end consumer discretionary space show the broader U.S. economy “may be in better shape” than investors are led to believe, CNBC’s Jim Cramer said Monday (Oct. 28).
Cramer, using the charts of technician Bob Lang, a colleague and publisher of ExplosiveOptions.net, looked at some of the top names in the consumer discretionary sector. That includes a host of nonessential goods and services such as motorhomes, cruises, snowmobiles and timeshares.
“That’s about as discretionary as it gets,” the “Mad Money” host said Monday. “These kinds of stocks only work when the consumer’s willing to spend and banks are willing to lend.”
Cramer said the charts show things are looking “very good” for some discretionary stocks, indicating that the consumer and the overall economy are in great shape.
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