These days are getting totally jiggy now. I mean, think about it. What could be worse than a

Fed

rate hike? How about a

discount rate

hike? And then a

prime

boost right on top of it? Nothing but bad.

Yet you knew it had to rally. We sat there racking our brains about why in the heck we were buying anything, fully knowing that it would work simply because there was no other shoe to fall for a while.

We struggled with the sheer counter-intuitive lunacy of buying a market that the Fed wants lower. And then we said, so what, get the black tickets out like everyone else.

One thing you can't do in this tape is try to outthink or intellectualize things. You can't sit there and say, "That's a bad thing, so I will sell." You have to be thinking, "Was it in the market? If it was in the market, the bias is to buy, not sell."

Can you imagine trying to justify your purchases today in any theoretical construct? "Well, we bought stocks because the Fed is getting extremely vigilant about slowing down the economy and is determined to break the endless upward equity spiral."

OK. Sounds good. Makes sense. Well-done.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.