It is Fashion Week in New York City right now, and Jim Cramer thinks this is a good time to celebrate the hottest trends currently on the Wall Street "red carpet."
The hottest style right now is the cybersecurity stocks. And Cramer thinks this makes sense, ever since the CEO of Target (NYSE: TGT) lost his job because of a data breach.
Stocks like Cyberark Software (NASDAQ: CYBR) and FireEye (NASDAQ: FEYE) had immense revenue growth recently, which proved just how much CEOs are willing to spend to avoid being the next victim of a hack.
Additionally, domestic retail is on fire right now and the "Mad Money" host anticipates that it will keep burning. He has his eyes on TJX (NYSE: TJX), Ross Stores (NASDAQ: ROST), Nordstrom (NYSE: JWN), Home Depot (NYSE: HD), Bed Bath & Beyond (NASDAQ: BBBY), Big Lots (NYSE: BIG) and Costco (NASDAQ: COST). And while analysts are backing away from these stocks as weaker oil plays, Cramer is standing his ground on them and thinks they will keep rallying.
"Now I'm not saying that all of these companies represent bargains. Fashion is, per se, not a bargain. Some of the cybersecurity stocks in particular are ridiculously overvalued. But right now it just doesn't seem to matter," said Cramer.
Read More Cramer's hottest stocks on the market right now
Another trending industry right now that is perhaps not as red carpet glamorous, are garbage stocks.
"The garbage business is on fire in this country, and unlike the smell of a real trash fire, I find the odor of a stock like Waste Management (NYSE: WM) to be very pleasant right here," said Cramer.
When the economy improves, that means people are producing more garbage. This is good news for a stock like Waste Management, which has 252 active landfills and 300 transfer stations. It delivered an 8 cent earnings beat from a 59 cent basis on Tuesday, sending the stock up 5 percent.
Does the company think it will go higher, along with the economy? To find out, Cramer spoke with Waste Management CEO David Steiner.
"When you look at construction around the country, you see particularly in the chemical corridor...the reindustrialization America is coming back. We are perfectly positioned to take advantage of that," said Steiner.
Now Cramer thinks it is time for a little earnings education because it is seriously fishy when stocks such as Skechers (NYSE: SKX) and Columbia Sportswear (NASDAQ: COLM) report earnings and then shoot through the roof immediately following.
"The mystery of how these stocks can make major moves right in front of your eyes needs to be unlocked for you to understand how the stock market really works. Yes, it's really that important," said the " Mad Money " host on Tuesday.