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Cramer said for stocks like Exxon Mobil (XOM), there simply aren't enough shares to satisfy a growing demand. Exxon is a changed company, one that will deliver 5% production growth in 2014. Add that to the glowing endorsement of billionaire Warren Buffett, increasing refining margins and a very successful stock buyback program and, Cramer said, it's easy to see why Exxon was able to pop 2% in today's trading, even with its standing as one of the world's biggest companies.
But what's happening at Exxon is emblematic of other stocks in the market, Cramer continued. All of the stocks focusing on social, mobile and the cloud are have been roaring, with names including Netflix (NFLX), Google (GOOG), a stock which Cramer owns for his charitable trust, Action Alerts PLUS. and Facebook (FB) regularly making new highs. The problem here? Not enough companies in their respective spaces.Cramer said that back in the dot-com days it was easy to find 10 or 12 companies doing the exact same thing. But in today's market there is only one Facebook, one Twitter (TWTR) one Netflix and one Amazon.com (AMZN) and so they dominate their categories. Then there are the mergers and acquisitions, Cramer continued. These two create shortages of stock to buy as, one by one, good companies are getting snapped up in deals that are instantly accretive to the earnings of the acquirers. All of these items individually might not sound like much, Cramer concluded, but taken as a whole, they're a big part of why money keeps pouring into the markets as interest rates get ready to head high. Even Washington can't undo the buying we've been seeing.