Commentators don't understand how unusual this market is, says Jim Cramer

Thrifty Thinkers
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1 Video View·Nov 9, 2024
Mad Money' host Jim Cramer talks the day's market action.
Where, I ask, where are the sellers?
Where did they go?
For years, every time we had a monster rally,
it was only met by giant selling at every turn.
Because when you offer higher prices,
sellers step up and they drill the bids.
Slam the buyers, take the profits.
But all year, and especially days like yesterday and today,
we just keep running and running and running,
with the Dow dropping less than one point,
but the S&P gaining 0.74%, and the NASDAQ,
oh, it just can't quit over there,
jumping another 1.5% today.
Partially aided by the Fed's quarter point rake-up.
But on top of yesterday's giant rally,
this is incredible, people.
What can I tell you about this?
For starters, many of the commentators
who come on air talk about it.
They don't seem to understand how unusual this bargain is.
They love to rant and rave about how stocks
have gotten to dangerous levels,
that they're ridiculously expensive,
that, look out, it's gonna be.
Well, there's some truth to that.
Yeah, no matter what levels the S&P 500 seems to reach,
we can't seem to find any large sellers.
They should be coming out of the woodwork.
That's the real oddity, people.
It's an extraordinary, across-the-board,
bullish scenario that I've never seen
in an entire 42 years of investing.
So what is driving the bull?
What is this market's badness?
How about we step behind the curtain and find out?
First, let's talk about the mechanics of trading.
I'm talking about institutional money management here.
If you want to buy a stock,
your trade won't move the price.
You can't win it is, unless you're at a trading desk
putting millions of dollars to work at a fast clip.
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