Eamon javers joins us this morning with the latest. Good morning. Reporter good morning, carl. Its oddly quiet here at the white house today. We dont see Senior Administration officials out here defending the president or making arguments we dont see any events scheduled with the president publicly, other than his departure later on this afternoon. Nonetheless, the president has been venting some of his frustration that we saw boil over in that letter to nancy pelosi yesterday and continues in tweets this morning the president saying can you believe that ill be impeached today by the radical left do nothing democrats and i did nothing wrong. A terrible thing read the transcripts this should never happen to another president again. Say a prayer and, carl, having covered the last impeachment, so far today this day feels very different than the day on which the president president bill clinton was impeached back in the late 1990s on that day, there was a real sense of uncertainty about wh
It was indeed a benign selloff. Before i give you some examples, let me explain the concept of bids underneath because this is a technical term used by professional Money Managers. I want you to understand this stuff. These professional Money Managers have Actual Experience in buying and selling large chunks of stock. They dont just do the Analytical Research about why a stock should be liked or disliked. Thats what we usually talk about on mad money. Now im going to talk about trading mechanics. Stock sinks, there are people who are ready to stand there and do some buying. In short, buyers are lurking and theyre ready to pounce. How do you know theyre there . If youre an institutional trader, youre often asked for what is known as a picture, meaning what is the actual supply and demand balance in a given stock before you pull the trigger. So what does that picture look like with a lot of stocks in this market . Lets start with the first disney. See, if i wanted to buy disney in size a
Showed only 142,000 jobs created . The slowest month of the year . And about 80,000 fewer jobs created than many were expecting . Normally you expect stocks to get hurt, right . Didnt much of this markets next move higher come from additional job growth . You would also expect Interest Rates to plummet, as almost always happens when we have a real employment shortfall. As the dow gained, and the nasdaq advanced, and bonds . They did nothing at all. Whats going on here, people . I think a couple things are happening. First this monthly survey does have its flawing, meaning it frequently is revised, and august has the history of being the most wrong month. I think we have a revision upwards when we see the next figures. Second, i think people are hearing too much empirical evidence, and from surveying involves construction. Thats why one of the strongest sectors today was retail. Totally counterintuitive. Im not going to asterisk this number, but i have to be skeptical and conclude there
I like gdi calls. Go to march. Give yourself some time. Doc j . Away, march 25 calls. All right, im melissa lee. Thank you for watching. See you tomorrow, 9 00 a. M. For squawk on the street, back at 5 00 for more fast money. Dont go anywhere. Mad money with jim cramer starts right now. Im jim cramer. And welcome to my world. You need to get in the game. Going out of business and hes nuts, theyre nuts they know nothing i always like to say theres a bull market somewhere mad money, you cant afford to miss it. Hey, im cramer. Welcome to mad money, welcome to cramerica. Other people want to make friends, im just trying to save you a little money. My job is not just to entertain you but to educate. So call me at 1800743cnbc. Even on days like today where the fed didnt say anything we didnt already know, but people used it as an excuse, an excuse to take some profits. Dow dipping 44 points, s p sinking. 39 . Nasdaq declining. 36 . You can feel the pain the house of pain. Its the pain of the
You can feel the pain the house of pain. Its the pain of the bearish Money Managers being overridden by the you guessed it. And thats precisely why i dont expect this pullback to last too long. Because we have a powerful force pushing this market higher. Im talking about the herculean attempts by Money Managers to keep up with the galloping averages and the heartache those averages are causing. All aboard all right. Lots of people have been talking about the return of the little guy to the market and how thats driving stocks higher. Oh, yeah, its a factor. Its only a piece of something much bigger that may be behind a huge amount of this historic january advance that i got to put in context for you and ive got to do it tonight. It all begins with a Fourth Quarter Gross Domestic Product number we started the day off with. Here we go again,. 1 drop. Especially when you consider the 3. 1 gain we had in the previous quarter, thats amazing. This number was mindnumbing. When i saw it, i shou