Somewhere, and i promise to help you find it. Mad money starts now hey, im cramer. Welcome to mad money. Live from minneapolis. Other people want to make friends. Im just trying to make you some money. My job is not just to entertain but to educate and teach so call me at 1800743cnbc or tweet me jimcramer. We got rocked today. And we need to talk about the significance of this break down. By no means was this a garden variety selloff. Not some shrug your shoulders no harm no fall selloff nasdaq plummeted 1. 96 how do we get hit with such a brutal decline if you are experiencing such a placid multimonth rally, tonight we are live so i can explain how it happened. I am going to take advantage of the fact that we are out here in minneapolis for the super bowl and talk to a couple of guys so you can put this in some sort of context. First, before we delve into the proverbial bears belly, we must never forget that we had a terrific run in the stock market the rally brought a huge number of
Bullish like the one of we had today, 174 points. S p 50012. 67 and nasdaq at a new high. I tend not to like those figures as indicators, spoonfed. That doesnt change the fact this is what investors really care about. However, there are a couple of joyous weeks every quarter their collective results control the allegation of trading, they sent the tapestry and mosaic and service the evidence how companies are doing and how their stocks are performing and how weak the economy might be. Before i go to the micro that influenced companys action today. I need to give a nod to the winds that allowed this bullish fire to rage. They came in at a two month old and technically oversold. The financials one of the highest in the market. Theres so much worry about the upcoming French Election on sunday. Third treasury, secretary steve mun nu shan predicted we get meaningful tax reform this year due to the looming debt ceiling stalemate. You consider the government had become a real drag on the mark