Cramer's 'Mad Money' Recap: The Dow Also Rises

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Two days ago, people woke up and saw that the futures were down and that Europe looked ugly. "Everyone thought we would be crushed," as all indicators said the Dow would be plunging, Jim Cramer said on his "Mad Money" TV show Thursday.

Yet, today the Dow rallies, he said.

Why is the Dow Jones Industrial Average acting crazy and irrational? "It's not all that prone to financial pressure," Cramer explained. "It is not exposed to the three crisis points in the system: the financials, the brokers and the homebuilders."

A lot of the companies on this exchange are still "great" buys. In fact, Cramer said he's sticking with his 14,548-point target for the Dow. While some may think that's crazy, remember, Cramer was off by only a few points last year.

Take a look at what's in the Dow, he suggested. People will see that only four Dow stocks are levered to the problems of the market and have the possibility of being rumored down by the bears: JPMorgan Chase (JPM Quote), General Motors (GM Quote), Citigroup (C Quote) and AIG (AIG Quote), the last two of which Cramer owns for his charitable trust, Action Alerts PLUS.

And out of these four, JPMorgan and Citigroup are the only ones directly related to the mortgage worries. There's no denying that their estimates are going to get hurt, Cramer said.

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