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After the New York Stock Exchange was halted for trading due to a technical glitch Wednesday, Jim Cramer clarified to investors that there are two kinds of trading halts.
First is the kind that is caused by a computer malfunction. The other kind is caused by the government stopping trading due to yucky stocks.
Cramer saw two absolutely amazing marvels Wednesday. The first was that the NYSE went down, and nothing really happened. Investors didn't blink, and trading was rerouted to other exchanges. The market ended up being just as bad on the other exchanges as it would have been on the NYSE.
"I can remember a time when the New York Stock Exchange was the only game in town, and this outage would have caused widespread panic and a huge across-the-board decline," Cramer said.
It may seem counterintuitive, but in Cramer's perspective what happened Wednesday was a testament to the strength of the stock market—not the weakness. (Tweet This)