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NEW YORK (TheStreet) -- Good things that aren't supposed to happen seem to be a daily occurrence in our stock market, Jim Cramer told his Mad Money TV show viewers Thursday. And that's making for a lot of lucky shareholders, he continued.
Case in point: OmniVision Technologies
(OVTI), a company with cool camera technology but a stock that has been terribly volatile -- so much so that Cramer said he couldn't risk recommending it on Mad Money. Yet, the company received an unsolicited bid for $29 a share seemingly out of nowhere.
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Then there's Trulia
, a stock Cramer admitted he thought would be crushed by rival Zillow
, at least until Zillow made a bid and bought the company outright for a nice premium.
Whether it's OpenTable
, Family Dollar
or most recently Kinder Morgan Energy Partners
, Cramer said good things that aren't supposed to happen keep on happening.
That's why it's a great time to be invested in the stock market, Cramer concluded. You never know when the next good thing will end up being in your portfolio.
Hunting for Bargains
With earnings season in the rear-view mirror, Cramer said it's time to start circling back to the high-quality merchandise that the markets have put on sale and do a little bargain hunting.
Cramer said UPS
(UPS - Get Report)
, an Action Alerts PLUS
holding, is one of those bargains. The stock is now $10 off its highs after investors didn't like the company's lowered earnings guidance.
But if you look into why UPS lowered estimates, you'd see that the company is preparing itself for stronger than expected demand. That means investing more money back into its business, which is not so good for the short term but makes a lot of sense over the long term.
Recall that last Christmas UPS got blindsided by "stronger-than-expected demand" that caused some presents not to make it under the tree in time. That's a situation UPS is determined not to repeat.
Yet, despite the company expecting strong demand, shares still sell for less than 17 times earnings, despite their historical average being around 22 times earnings. Shares also sport a solid 2.9% dividend.
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Cramer said he expects a great fourth quarter from UPS, and with the company having less international exposure than its rivals it should be a terrific holiday season for this now beaten-down stock.