When CNBC's Jim Cramer talks about the "era of good feelings," he's not referencing the U.S. history books.
"No, I'm talking about this week of Thanksgiving, where the buyers pay up and the sellers walk away," the "Mad Money" host said. "It's almost as if there's a selling ban."
Even with several articles casting Apple's new HomePod as worse than the Amazon Echo and news that the smart speaker's release will be delayed until next year, shares of Apple steadily climbed intraday.
"Negative, negative, negative, negative. What does the stock do? Rallies three bucks. Why? Because the sellers are on strike," Cramer said.
Shares of Facebook were also rising despite a Buzzfeed story about the social media giant's trepidatious standing in Russia, a piece about Chinese tech player Tencent surpassing Facebook in valuation and an unfavorable tweet from Mark Cuban:
"I think the big losers of the DOJ suing to block the @ATT deal will be @FB and @Google," Cuban wrote. "Their media advertising , content and distribution dominance will be a defense at trial. That could create bigger issues for them."
"In this era of good feelings, money managers suspend their critical faculties," Cramer said. "It's almost as if these longtime worries have up and vanished. But nothing's changed. The sellers are just letting the stocks lift and the buyers are reaching like mad."
Certainly, there were several areas where the sellers remained on Tuesday, namely the turbulent oil stocks, the discount retailers after a
Cramer said that this lapse in selling is typically a "Thanksgiving phenomenon," but given the state of the bull market, even the "Mad Money" host wasn't so sure when it would end.
"Maybe investors have simply decided they should pay more for the same earnings numbers, giving us the gift of multiple expansion," he said. "The bottom line? I've got an idea: if you really are scared of this market like so many are, if you truly believe there will be a crash or something terrible is out there — a view I do not subscribe to — then feel free to use the era of good feelings to lighten up. Nobody ever got hurt selling into strength."