CNBC's Jim Cramer stated that stocks are increasingly moving as part of thematic trading baskets rather than based on company-specific fundamentals.
"The best thing? They create real opportunities, as the stocks divorce themselves from the fundamentals until the companies report," said the host of "Mad Money".
Cramer noted that traders have increasingly grouped stocks into baskets that rise or fall together based on broad themes rather than company-specific fundamentals.
He pointed to Boeing as an example, whose shares have increasingly traded with geopolitical headlines.
Cramer also noted that retailers have become another basket trade.
"Costco and Walmart are both excellent evergreen retailers," he said.
He emphasized that technology has become one of Wall Street's biggest basket trades.
"It's good to see that the fundamentals still matter, even if it only happens during earnings season," he said.
