A trifecta of bad news hit the market today, and one group of stocks — the semiconductor plays — rallied anyway, so Jim Cramer uncovered a signature pattern that boosts stocks even in troubled times.
"We call it 'the bid underneath,'" the "Mad Money" host said. "It's a key part of the amazing sector resilience that explains this market's ability to hang in there even on days like today with a lot of bad news. And frankly, I find the bid underneath in this market astonishing."
Despite negative reports of Syrian airstrikes, allegedly tense U.S.-China talks, and weaker-than-expected employment numbers, chipmakers' stocks, especially of those serving Apple devices, roared to new highs.
One such company is Skyworks Solutions, a radio and mobile semiconductor play that hit a 52-week high on Friday. Another is Qorvo, which spent 2016 trading sideways and has spent nearly every day in 2017 ticking up.
Watch the full segment here: