Cramer penned a column on how the upcoming election and the "Democratic horse race" could impact stocks going forward.
"I think [these two stock moves] show you that if you look at only the Fed and the yield curve, as so many people have taught us to or insist on pushing -- kind of like opioids on an unsuspecting investing public -- you miss what's really driving stocks: the election and the fact that the Democrat horse race is directly impacting stocks now," Cramer wrote.
But, should investors be worried about the market as the race to the presidency heats up?
"Well, I think that you have to play, pay very close attention to the polls. Now should you,? We're early. There is a tremendous belief that you can gauge things by who's in front. But as someone who used to do political stuff and used to leaflet for people who were in front, I can tell you that it's a very dicey thing to change your portfolio back and forth based on who's leading the polls. But the bottom in the health care, managed care and bank stocks came right at the time of the peak of Elizabeth Warren's polling and it's all downhill from there. And that's one of the reasons why the stocks have really rallied," said Cramer.
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