Sometimes the market isn't straightforward. The Federal Reserve hinted that it could raise rates in September, and the price of oil cascaded lower. Yet, Jim Cramer still didn't see enough reasons for stocks to sell off on Wednesday.
Investors who held the stocks of Panera Bread, Buffalo Wild Wings, Caterpillar and Boeing were all surprised with earnings, and gave them no reason to sell. That meant short-sellers got the short end of the stick and had to scramble to cover their shorts.
"Short-sellers set up an ambush for the owners ... but these ambushes failed because the companies didn't give you a reason to sell. When there are no short-sellers, there is no way a short-seller can make money," the "Mad Money" host said.
The worst performing stocks of the entire market, Cramer said, were the airline stocks. That meant Boeing had a horrendous set-up going into its quarter, especially with the massive $2 billion account charge it took last week.
But then Boeing crushed the numbers with both a top and bottom line beat and reaffirmed full-year guidance. The result was a huge move to the upside, as there was no reason to sell the stock.
"That is a long, not a short. In fact, it's a good short spoiled," Cramer said.