Jim Cramer watched as stocks leaped to the best day seen since 2011 on Wednesday, leaving him to wonder—what made Wednesday so much different than Tuesday? When stocks collapse into the close of trading one day, like they did Tuesday, and then hold gains the next day, he has to dig a little deeper to find out what happened.
What Cramer found was a stock phenomenon created at the closing bell on Tuesday that he has not seen since the great recession. He saw the occurrence of accidental high yielders. These are stocks that have fallen so far so fast that their dividends suddenly provide investors with huge yields.
Verizon clocked in at a whopping 5 percent at the bell, along with General Electric and Procter & Gamble at 4 percent. These are all strong balance sheet companies, and the opportunity was too good to pass up for Cramer considering that the 10 year treasury yields just 2 percent.
"I think we've got some substantive things happening that are pretty positive, and some more ethereal, mechanical and even purely emotional factors that could be drivers here," the "Mad Money" host said. (Tweet This)