Jim Cramer hates days like Wednesday when the stock market seems to reel at ostensible milestones like the Dow Jones average crossing above 22,000.
The "Mad Money" host said that action like that will likely draw more erroneous comparisons to the dotcom bubble of 2000, which he maintained is far from what we are seeing in 2017.
"As I've said repeatedly, 2017 is nothing like 2000. The tech stocks that are doing fabulously here belong to companies like Apple that have huge cash hoards and are insanely profitable. In many cases, their stocks are downright cheap," Cramer said. "You've got this deadly combination of stocks coming down and commentators 'reverse' cheerleading for stocks, accentuated by the Dow 22,000 nonsense that says they can say, 'Hey, you know what? This is toppy action,'" Cramer said.
But Apple's fundamentals are strong, as the company showed in its third-quarter report. The stay-at-home economy is booming. So Cramer reminded investors of the market moves to which they should be paying attention amid all of the noise.