Benzinga | Oct 12, 2020 07:01PM EDT

Jim Cramer Talks Monday's Rally, Apple's Move And More

Jim Cramer on Monday's edition of CNBC's "Mad Money" discussed his thoughts on today's strong rally along with several specific stocks.

Cramer believes the rally was based on hope and hype, not facts, and suggests investors should be cautious.

The S&P 500 closed up 1.6% at 3,534.22, its highest level since early September.

On Apple: Cramer says Wedbush calling Apple Inc. (NASDAQ:AAPL) a "supercycle" has been a jinx in the past. He believes Apple's significant 6.3% rally might end up disappointing tomorrow after the iPhone event or in the near team.

On Amazon: Cramer believes amid the pandemic, Amazon.com's (NASDAQ:AMZN) Prime Day should make it obvious the company will perform well.

On Cars: Cramer likes Ford Motor Company (NYSE:F) and General Electric Company (NYSE:GE), but would not buy into it the two companies until they start trading above the $10 level.

On Retail: Cramer likes L Brands, Inc. (NYSE:LB) because of its strong same-store sales led by Bath and Body Works along with potentially spinning off the Victoria Secret line of business. Cramer also notes the LAG stocks, which include L Brands, American Eagle Outfitters, Inc. (NYSE:AEO) and Gap, Inc. (NYSE:GPS), "all have room to grow."