Mad Money

Cramer: Stocks killing it in a negative market

Cramer: Bad setup, but fairy tale ending

With the Greece situation still in limbo, Jim Cramer doesn't know what make of the market. The Fed heads have already returned to talking about raising interest rates, and the dollar grew stronger on Tuesday. What a confusing market!

"I don't like the setup, meaning the way thinks look for the market overall. We are in a world where we keep confusing what is good with what is bad," the "Mad Money" host said.

This confusion was probably also the reason why the only stock in the Dow to move much higher was UnitedHealth, which Cramer says dominates the whole country.

But just because there is a negative setup of the averages, that doesn't mean Cramer thinks investors are doomed.

"Every time it seems we've got a real, market-wide death rattle on our hands, individual stocks destroy the whole pessimistic narrative," Cramer said.

Boxes of Botox by Allergan.
Patrick T. Fallon | Bloomberg | Getty Images

In fact, a lot of what Cramer sees happening right now actually stems from companies trying to quiet the negative chatter surrounding their stocks.

For instance, last week Cramer was heavily criticized for saying that Facebook CEO Mark Zuckerberg may have gotten a bargain when he purchased WhatsApp for $19 billion. But then Facebook's stock finally broke free from $80 on Tuesday, and now the rumors are that WhatApp may give Facebook additional revenue growth.

Or how about Allergan, which was previously under the name Actavis and was one of the biggest acquisition sharks in the market.

"The next thing you know, it seems to be settled in, even changing its name to Allergan, something that felt at least to me, like a signal that the swashbuckling buy, buy, buy days were over," Cramer said.

It turns out Cramer was wrong, though; just a few days after the name change, Allergan bought Kythera. After a little digging, investors realized that its drug, Kybella, might replace plastic surgery for eradicating facial pudge and even has the possibility of getting rid of jiggly arm fat.

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Sure enough, the stock broke out, and the charts are showing a perfect, wrinkle-free, head and shoulders pattern that could lead to a new high.

So Cramer advised investors to think twice next time they think the market is headed lower because of Greece or the dollar. It seems like, these days, it won't go down for the count. Though he may not like the setup of what's happening, he doesn't hate it, either.

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