Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
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The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
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"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
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Dig down into the market and Jim Cramer says you'll find developments that just don't make a lot of sense.
"There are difficult anomalies that are peculiar in this market," Cramer said.
For example, "On Thursday, we had a that was incredibly anemic, " noted the "Mad Money" host. According to the U.S. government, builders broke ground on new homes at a seasonally adjusted annual rate of 893,000. That was the lowest level in nine months and down 9.3 percent from May's rate.
Given the data, Cramer would expect paint makers, whose fortunes rise and fall with housing, to take a hit. "Yet two of them were among the best performers of the session."
And that kind of unexpected crosscurrent was hardly isolated to housing. Cramer has noticed it in the energy sector, too.
For example, from Tuesday to midday Thursday the Dow Jones Transportation Average rallied, while at the same time the spot price of crude oil marched higher. "That doesn't make much sense," Cramer said.
Also, domestic oil stocks sold off on Thursday, even after oil spiked due to uncertainty in Russia. "Yet, domestic oil has the most to gain from they shouldn't have sold off. "
Cramer has noticed similar anomalies in other parts of the market, too. But of all the unusual crosscurrents, perhaps nothing is more puzzling than the price action in the bond market.
That is, new pieces of data continue to suggest the economy is starting to percolate yet rates remain low. "You simply must wonder why rates, the principal competition to stocks, remain low despite better economic times," Cramer said.
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All told, if you're an investor looking to put money to work in the market, proceed with caution. "At present, many conventional relationships just aren't making money," Cramer said. "That's something investors should be aware of."
Unless you need to put money to work immediately, you may be well served to wait and watch, at least for a while. "Patterns right now are real messed up," said Cramer.
Call Cramer: 1-800-743-CNBC
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