After a fantastic three day rally, Jim Cramer thinks it is worth remembering that it is possible for good things to still happen in the stock market. Some of the news behind the rally was straight forward, but there have also been hidden bullish signs that drove stocks higher.
"A lot of them are happening behind the scenes," the "Mad Money" host said.
So to help investors determine if this rally is just buying time or the real deal, Cramer went down the list of changes he saw that helped to get the market's mojo back.
Chesapeake committed to paying its $500 million in debt that will come due next month in cash and with its credit line. It also committed to pay the $1 billion in debt due next year.
Additionally, Freeport McMoRan sold a 13 percent stake in its Morenci copper mine to Sumitomo Metal Mining for $1 billion in cash, which gave the company flexibility to reduce its massive $19 billion plus debt.
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The high yield debt market has also been tormented by Sprint's declining bonds. On Tuesday, Sprint's owner Softbank announced a $4.4 billion buyback. Cramer interpreted this as a sign that if Softbank has the money to buy back stock, then it has the money to help stop the decline at Sprint.
The next piece of positive news occurred when Warren Buffett's Berkshire Hathaway announced it had purchased 26.5 million shares of pipeline player Kinder Morgan in the open market during the fourth quarter.
Kinder Morgan previously slashed its dividend by 75 percent, which caused the stock to fall 37 percent in December. However, the news of Buffett's investment prompted the stock to be one of the first of these pipeline plays to bounce back to the levels before the dividend was cut.
And just as Cramer wrote off the European banks because of negative interest rates and suspect loans, he learned that Credit Agricole will sell its stakes in various subsidiaries to liquefy its balance sheet and pay a cash dividend. This was a welcome sign to Cramer in the banking group.
While there were other news events, the biggest one for Cramer was the action in Apple. The company issued $12 billion in bonds to buy back more shares after Carl Icahn confirmed he sold 7 million shares. The last two times Apple came to the market, the stock roared.
"Maybe this time it is no different, especially as we get closer and closer to the launch of the iPhone 7," Cramer said.
When Cramer took a look at the compilation of all of these positive changes, he recognized that none of these are actually solving problems. They are simply buying time. The only real trend was that they are all good things that happened to stressed out situations.
But when so many good things happen all at once, the impact can be tremendous to short-sellers who realize they may have overstayed their welcome. And some of the short-sellers could get greedy.
"Never forget: Bulls make money, bears make money, but pigs get slaughtered," Cramer said. (Tweet This)