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High-end retail stocks are showing signs of more upside, Jim Cramer says

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Capri Holdings, Tapestry, LVMH and Nordstrom may take another leg higher, thanks to a new round of stimulus spending from Congress, the 'Mad Money' host said.

Lang, the founder of ExplosiveOptions.net and a contributor to TheStreet.com, is a trusted technician that Cramer relies on to get a read on the state of the market.

Cramer noted last year was the biggest period of retail failures in history, as coronavirus lockdowns and restrictions put a dent in the brick-and-mortar retail landscape. As the U.S. carries out its Covid-19 vaccination campaign and guides closer to a full economic reopening, those businesses that outlasted the damage could be in a position to benefit from another round of relief spending that includes a third distribution of direct payments to most Americans.

"This whole group was running out of gas a couple weeks ago, then Congress agreed to pump $2 trillion in [the economy] and now they're looking at another leg higher," Cramer said.

 

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WallStreet 'advisers' and mass media: CNBC, Bloomberg have to be very proud for luring clueless retail 'investors' into the biggest StockMarket BUBBLE in history! This is what they are paid for by big corporations - turning retail investors into bagholders!

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