view transcript

Why are the numbers, both top and bottom line, so strong? First, the tax cuts have resulted in some pretty darn terrific earnings. We aren't political, but to say the tax cuts haven't worked in business is to show a political bias. They have been phenomenal.

Second, as you know if you read or bulletins or my books, I care more about employment than just about anything and holy cow is employment strong. Great claims numbers just this morning on Thursday. Do you know, I now ask CEO's off screen, have they hired any ex-convicts of late? And almost all say yes. Provided that the crimes aren't violent or involve marijuana, which is what they really want, which is now legalized in so many states. That's what they're looking for, nonviolent. Nonviolent parolee's. Isn't it something? They don't even quibble about it. When you keep immigration down and when you have a low birth rate you hire who would have been formally considered undesirables. What a remarkable turn of events. I think it's a great indicator that I'm trying to figure out exactly how to put into numbers.

Third, we have little inflation. Sure I am concerned about the CPI numbers that come out Friday. But there are countervailing price chokers everywhere, with one of them being Amazon. And that of course is our largest stock in our portfolio. PPI very benign this morning by the way. I think inflation will remain tame enough to keep the Fed from raising more than twice for the remaining portion of the year which will be good enough for our bank stocks, which have been roaring ahead as we told you would be the case on our last call.

Fourth, there are going to be a trillion dollars in buybacks this year. And when you meld them with the incredible amount of index money coming it is awful hard to find sellers at these levels. Which is why the market seems to want to go higher even on a sleepy Thursday like today.

Finally, fifth, there are still so many negative, sad folks out there who believe that our President is causing too many problems with trade or with statements involving corporations, that things have to end badly. Now I don't ever use the end badly kind of talk around here. We're not mothers telling children, or fathers, that if they keep horsing around someone's gonna get hurt. We are disciplined portfolio managers who like to make decisions based on empirical data and boots on the ground facts.

These five props to the market make us inclined to buy stocks in any weakness.

Buy now. 

In the August Action Alerts PLUS members' call, TheStreet's Jim Cramer detailed five great reasons why the current market environment is still a great place to be a buyer.

From the effect of the tax cuts to hiring convicts, he gives his rationale for why earnings numbers -- on both the top and bottom line -- have been pretty great this season.

He also tackles inflation, buybacks and the President's erratic behavior.

Bottom line: He's a buyer here.

So watch the video above to see why you should be too.

Do you want more exclusive investing insight from Cramer? Get 24/7 access to Jim's charitable-trust portfolio with a free trial to Action Alerts PLUS! You can also watch all of Jim Cramer's New York Stock Exchange live shows on YouTube.