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Jim Cramer: Biotech, Housing and Cult Stocks Driving Market

Jim Cramer

On his Tuesday, November 11th episode of Mad Money on CNBC, Cramer identified 3 sectors that are leading stocks: Biotech, Housing and “Cult Stocks.”

Regeneron was the surprise driver of biotech. Last week, it reported slower sales of its eye treatment, but it received positive news on its asthma drug, and marched higher, bringing other biotechs along with it.

Lower interest rates are good for housing stocks. D. R Horton disappointed on earnings, but the stock still rose. Other homebuilders such as Toll Brothers and PulteHomes are riding higher, and this may be the beginning of a trend.

Cramer coined the term “hot stocks” for stocks that have a lot of hype surrounding them, but may go higher without popping in a bubble. Amazon was a hot stock which was displaced by Alibaba, although with funds seemed to be taking profits on the Chinese internet giant which may have done peak business on the Chinese Singles Day holiday,   and switching into Amazon for the Western holiday season. Telsa is a stock that seems to be driven higher by founder and CEO Elon Musk’s enthusiastic Tweets. In fact, Twitter may be a significant mover of popular stocks.

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