Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK ( TheStreet) -- If you get too negative and give up, that's when lightning will strike, Jim Cramer told his "Mad Money" TV show viewers Thursday as he tried to make sense of the day's dramatic turnaround and rally. Cramer said when you least expect it, that's when the markets always move.
Things were looking ugly at 4 a.m., said Cramer, as he recounted his morning ritual. He said the news was riddled with talk of Greek defaults, Spanish bond auctions and weak earnings around the globe as a result. Even before the U.S. markets opened the futures pointed to a 40 point decline in the Dow Jones Industrial Average and Cramer said he was preparing for another really bad day.
But then, almost in an instant, European central banker Mario Draghi made comments that he was committed to saving Europe's ailing economies by any means necessary. Cramer said in the time it took him to get a cup of coffee, the futures were up 200 points, a full 240-point swing in just minutes.Cramer said that caution still remains the watch word for these fickle markets. What Europe giveth it usually takes away a few days later, he reminded viewers. He said that Germany's Angela Merkel will likely pull the rug out from under the markets before the weekend's done, but until then investors should enjoy the gains.