Cramer: The Market Is 'All FANG All The Time,' But It Shouldn't Be

CNBC's Jim Cramer coined the "FANG" acronym and by nearly every measurable metric it has been a winning trade. The problem is that the four names that comprise the group — Facebook Inc FB, Amazon.com, Inc. AMZN, Netflix, Inc. NFLX and Alphabet Inc GOOG GOOGL — dominate the financial headlines at the expense of other investment ideas.

A major complaint against the market as of late has been that it's "all FANG all the time," Cramer said during his daily "Mad Money" segment Thursday. For that reason, some of Thursday's winners aren't necessarily receiving the attention they should, he said. 

Struggling retailer Kohl's Corporation KSS gained 2.3 percent Thursday, while Ollie's Bargain Outlet Holdings Inc OLLI gained more than 6 percent and even hit a new all-time high of $43.60. This may indicate brick-and-mortar stores aren't falling apart just yet, Cramer said.

Aside from retailers, the transportation sector "gave us exactly what the bulls want," while food, construction and biotechnology contributed to the rally. And a strong earnings report from companies like Box Inc BOX helped restore overall investor confidence.

The stock market's rally is now not only broad-based, but it offers investors a "nice break from the endless leadership" of "high-flying" names.

"[Thursday's] rally was about as broad-based as we've seen all year, so it's got to be a tad disconcerting to the bears who are betting we are on the verge of a sharp downturn because of a previous lack of upside participation," Cramer said.

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