Cramer Likes Housing After Monday's Rally, Thinks Paypal Was Oversold

Jim Cramer shared his first thoughts on the market Tuesday morning on CNBC’s “Squawk on the Street.”

Cramer on Monday’s Rally: Jim Cramer assessed the huge moves the market saw on Monday.

Cramer said you can’t have huge one-day moves and “believe they’re for real.”

After the big moves, Cramer said there is still value in growth stocks: “Lot of stocks that are pretty cheap.”

Related Link: Cramer Thinks Credit Card Stocks Could Be Winners Of Economic Reopening

What Cramer Likes: Cramer likes housing and automobile stocks. He pointed to the quarterly report from D.R. Horton Inc DHI Tuesday morning showing strength in housing.

Cramer liked aerospace stocks after Monday's vaccine news.

The question Cramer had was on why the bank stocks moved so high on the vaccine news. He said Paypal Holdings PYPL was one stock that was unfairly punished by Monday’s moves.

“I'd rather be in that than any of the banks after the moves.”

Price Action: Shares of D.R. Horton are up 3% to $66.98 in pre-market trading Tuesday.

Shares of Paypal fell 9% in Monday's trading session and are down 1% to $183.34 in pre-market trading.