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Right now, there are almost too many bull markets to count, Jim Cramer proclaimed to his Mad Money viewers Wednesday, as the buyers just can't seem to wait for prices to come down before snapping up their favorite stocks.
Cramer said there are always "lurkers" in the market, those willing to buy a stock for a little less than sellers are willing to sell for. But sometimes, the momentum shifts to the bulls and these lurkers are forced to lift the stock, paying what the sellers are asking and then some.
This was the case with Walt Disney (DIS) , as worries about ESPN subscriptions were countered by bullish comments on the company's conference call, sending the stock price higher.
Target (TGT) also delivered a monster 21-cents-a-share earnings beat that sent the bulls and short-sellers alike scrambling to buy up shares, ultimately climbing 6% by the close.
Finally, Cramer said there's a bull market in Caterpillar (CAT) , which appears to be "the" stock to own under a Trump administration that plans to spend billions on infrastructure.
Executive Decision: Chegg
For his "Executive Decision" segment, Cramer spoke with Dan Rosensweig, chairman and CEO of Chegg (CHGG) , the student services company that's seen its shares rise 127% since Cramer last checked in back in February.
Rosensweig said that education has taken a long time to go digital, but Chegg now has a platform to help students pick the right college, get financing, save on textbooks, find tutoring, get homework help and more. The company reaches over 40 million visitors a year on its website.
Chegg is also building an expansive database on student outcomes, Rosensweig explained, and can tell prospective students what other students are doing with their degrees and what skills they need to have to succeed.
Rosensweig also spoke of EasyBib, a citation service students can use to find the original source of information and prevent plagiarism. Still other services provide homework help and expert answers to questions on demand.
With so many things going for it, Cramer said the move in Chegg "is not over."
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Avoid snap judgments
Are the markets overreacting to a Trump presidency?
Cramer said he thinks so when it comes to the private prison stocks and the gun makers. Just after the election, the prison stocks, led by CoreCivic (CXW) and Geo Group (GEO) , rocketed higher, while gun makers Sturm Ruger (RGR) and Smith & Wessonundefined plummeted.
On the surface, the moves seem logical, Cramer said. Trump has said he plans to deport millions of illegal immigrants, which is potentially great for federal prisons.
He also isn't likely to increase gun control, which makes the perceived need for buying guns a lot less urgent than it might have been under a Clinton administration.
But Cramer said the market was too shortsighted with these snap judgments, as private prisons have come under intense scrutiny since 2015 and the federal government is phasing out their use. These stocks also have a ton of debt and sky-high dividends that are red flags, Cramer said.
As for the gun makers, Cramer said, they have solid businesses that shouldn't be affected by Trump, at least not in the short term.
Executive Decision: Wix.com
In his second "Executive Decision" segment, Cramer spoke with Avishai Abrahami, co-founder and CEO of Wix.com (WIX) , the website development company with shares that are up 70% since Cramer last checked in just five months ago. Wix currently has 94 million users on its platform.
Abrahami touted his company's new artificial intelligence platform as a big success thus far, saying that the service helps customers build the best website for them in just minutes and ultimately makes their businesses more successful.
Wix is now in 198 countries, Abrahami said, which is helping them achieve their 40% growth rate. Many customers are upgrading out of free packages, he said, and into full business suites that offer marketing tools and other services to help build their business.
Cramer said the artificial intelligence story at Wix is very exciting.
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In the Lightning Round, Cramer was bullish on Church & Dwight (CHD) , Broadcom (AVGO) , Bank of America (BAC) , Morgan Stanley (MS) , Newell Brands (NWL) , Ulta Beauty (ULTA) , Idexx Laboratories (IDXX) , Western Union (WU) and Visa (V) .
In his "No-Huddle Offense" segment, Cramer said it has been difficult to determine what's really driving this post-election rally. Is it the promise of lower taxes, less regulation, more infrastructure?
Cramer said he thinks the deregulation angle isn't getting enough attention. Many small business owners fear the government, he said, and find it easier to do nothing than to grow their businesses.
Small business owners need an army of lawyers, accountants and services just to not screw anything up, and that hurts the economy.
So maybe, Cramer posited, a wave of deregulation is just what we need. That sure seems to be what the markets are betting on.
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At the time of publication, Cramer's Action Alerts PLUS had positions in SBUX, TJX, FB, NWL and V.