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Pros stretching, ready to chase performance

(Click for video linked to a searchable transcript of this Mad Money segment)

Over the next 6 weeks, there could be some pretty big moves in the stock market.

So says Jim Cramer.

The Mad Money host believes a phenomenon known as chase for performance is about to sweep across the market. That is, money managers who are lagging their benchmarks are about to invest heavily in hopes out generating outsized returns.

"If you're behind the market this time of year, you're staring down December 31, every single day of the week," Cramer explained.

Diane Collins and Jordan Hollender | Digital Vision | Getty Images

That is, pros know they have a limited amount of time generate enough profit to make up lost ground.

Therefore, Cramer says, it's likely that these pros will choose to be 100% invested, and he believes they will put a disproportionate amount of money in just a few momentum stocks, hoping for outperformance.

What could rally into end of year?.

"There's a whole host of anointed names that fit this bill, including Google, Salesforce.com, Amazon, Netflix and Starbucks. On the trading desk, those would be my go-to names to buy on weakness, betting that they could give me the outperformance I need."

That's because these stocks have already made substantial gains in 2013. Conventional wisdom suggests these stocks should attract new money if only for the sake of window dressing.

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Now, make no mistake, that's not to say these stocks are fairly priced. They're not. They're expensive.

"Value is irrelevant when you're on the hunt for performance," Cramer said.

"Money managers will happily pay elevated prices for these stocks if they believe these stocks can help them achieve their goal, which is effectively not ending the year behind the benchmark."

At time time of year, nothing matters more on Wall Street. It can even trump fundamentals, the cornerstone of investing.

"That's just how this game is played," Cramer added. It's got nothing to do with fundamentals. "Like it or not, this is what goes on and I suspect it will dominate the market through the end of the year."

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