Jim Cramer is concerned about the amount of mistakes that the market is making lately. A lot of things have gone wrong, in both before- and after-market hours.
Frankly, he is completely stunned at the amount of moronic activity happening, and he wants to remind investors to trust their instincts.
Take Chipotle, for example. On Monday, it reported an unheard-of 19.8 percent comparable sales number, versus the already high expectation of 17.2. Analysts wanted $3.83 in earnings; Chipotle one-upped them with $4.15.
Yet the stock has tumbled from $653 to $607, because the company gave cautious guidance. That is the biggest decline in 17 months.
"I think the company would have been nuts not to give cautious guidance. Who can possibly maintain that space?"
Cramer thinks this stock has room to grow. Even after it raised prices for customers last quarter, Chipotle still posted monumental earnings. Yet, it still has gone down on Wednesday.
What the heck?