Jim Cramer was convinced last week that a jump in small business optimism would have no influence on the stock market.
"I was wrong," the " Mad Money " host said.
"I can't emphasize how important this all is because right now there is a perception in the media that there is nothing but trouble ahead with Trump's nominations, with his plans, with his style," the " Mad Money " host said.
This could be true, but the survey indicates that Main Street likes what Trump is bringing to the table. Cramer suspected this means good things for lending, building and buying of plants and equipment, too.
However, Cramer remained cautious about the auto industry because of challenges involving autonomous cars, competition and Trump's vision for manufacturing in America.
When it comes to semiconductors , Cramer says to watch Texas Instruments (TXN), Analog Devices (ADI), Broadcom (AVGO), Micron (MU), Advanced Micro Devices (AMD) and Western Digital (WDC) — not just Nvidia (NVDA).
"The now repulsive obsession with Nvidia … has blinded people to the semis that can provide the fuel to the next leg higher," he said.
Medical device stocks have remained the sole bright spot of the larger health care sector for the past year, with Edwards Lifesciences (EW) leading the way.
Edwards Lifesciences makes devices that combat heart disease, including non-invasive heart valve replacement technology. The company held a bullish investor day last month and provided positive guidance for 2017.
On Monday, the company also painted a compelling picture at the JPMorgan healthcare conference. To learn more, Cramer spoke with Edwards Lifesciences CEO Mike Mussallem, who shared his bright outlook on the profitability of the transcatheter aortic valve replacement.
"We expect that not only will this be a $5 billion opportunity by 2021 but beyond that, it will be much larger yet," Mussallem said.
Cramer also likes to keep his finger on the pulse for privately held companies that could transform their industry, especially when it comes to the powerful theme of the humanization of pets.
Rover is a private company that is the national's largest network of pet sitters and dog walkers. It allows users to go online or scroll through its app to find a sitter or walker in their community, book the service and exchange payment.
Even though Rover has a network of over 65,000 sitters, it still has a selective vetting process, which has helped it become so successful. Cramer spoke with Rover's CEO Aaron Easterly, who shed light on the high demand for Rover's services.
"Right now in the U.S., most dog owners hate the idea of taking their dog to a kennel. Only 8 percent of dog owners take their dog to a kennel when they travel out of town, so 92 percent of the market is searching for a solution. It's actually the most underutilized part of the pet industry," Easterly said.
As the Dow Jones industrial average (Dow Jones Global Indexes: .DJI) continues to linger around 20,000, Cramer turned to the charts to find out if the rally can continue.
Looking at the tools that most technicians use, one might think that the charts are bullish right now. But Boroden uses a different methodology, and it made her become more cautious about the Dow and the S&P 500 (^GSPC).
"She is not saying that the Trump rally is definitely coming to an end, but she does think that, at the very least, the market could be approaching an important decision point," Cramer said.
In the Lightning Round, Cramer gave his take on a few stocks from callers:
Ensco (ESV): "No, because I don't like deep water drilling because you need oil to be between $70 and $80 to be able to make that profitable. Why not go buy Schlumberger, the best of the group, and you will be able to own it for a long time without worrying about the cycle."
Alcoa Corporation (AA): "Alcoa is the company that is the commodity side. Now remember, 18 percent of that company is owned by Arconic. Arconic is now free to be able to sell that stock, which I think makes it so that if you are going to buy AA off of a commodity rally you may end up with a big slug of AA sold by Arconic. Let's be careful out there."
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