But the hot deal froth now stands with the fuel-cell debacle, the marijuana froth, the tiny-biotech bubble, the rampant penny-stock craziness, the anything-solar love affair, the Fannie (FNMA)-Freddie (FMCC) silliness, the Tesla (TSLA) anything-goes trading and the 3-D printing nuttiness. It's all just total bad news for what has become a bedraggled market.
Plus, you can see that we have a flood of Chinese IPOs coming and the Chinese stock market is the single biggest bear on earth. Can we really separate China's social and gaming Internet IPOs from the rest of the madness over there?
The bankers will.
We are having way too much of a good thing in certain sectors and way too little of it in others. The hatred is amazing if you call this stuff out, which I know over at @JimCramer on Twitter.
Just makes me dislike the market more and more. This froth has to be reined in. These deals need to start failing and the window needs to close. The big-volume joker names need to come down to earth and stay there, or we aren't going to get through this period without a more serious broad-market correction.
It has always been this way. It will be now if the froth isn't stemmed. If it is, then the market can resume its climb, provided we get stabilization in Ukraine and China. Without it, it'll be tough sledding. Sorry.
At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long CELG.
Editor's Note: This article was originally published at 7:25 a.m. EST on Real Money on March 17.