Listen: Jerome Powell, Thirty Five Percent And Four Percent discussed on MAD MONEY W/ JIM CRAMER
"As the market sells off viciously, guess, what would be worth maybe picking some up in weakness. There's gotta be something. Right. We'll have about the stocks that bounce right back after the last big decline. It spending two months getting pull the cloud kings. Comeback. Starting it in November. Remember in September. I warned you to watch out for a cell often fast growing momentum stocks like are seven cloud kings adobe Salesforce service now red spunk. VM VM-ware I'm workday. But even I didn't expect such a horrific break them. What happened? Well fed chief Jerome Powell meet some poorly thought out rash comments about the need to keep raising interest rates and suddenly investors dumping the biggest winners in water to lock in the prophets. Who can blame them? We saw it happen today. Right. The cloud kids were some of the best performers here to take going to the end of September. So they got crushed nearly all them entered bear market territory. Percent with the worst s- plunk. Well, the best companies losing wore than thirty five percent of its value from peak to trough the soda was so terrible. That we start hearing chatter about a slowdown. In the cloud. It is the was no evidence for a slowdown at all aside from the fact that the stocks have been hammered. Yeah, that's a classic case of circular reasoning last week, though, everything changed once own pal indicated that he might not need to keep raising interest rates if to the next one, well, that's so one and wait on preaching the market adopted a much more positive attitude until today, of course, but then the cloud kings really did after that pow walk back report series of blowout earnings. With numbers that were spectacular and the stocks responded accordingly by flying up those clouds talks pulled back hard today. So now we're talking about again. But you gotta understand we know the businesses just fine because in fact, maybe better than fine. We've just heard from the companies, I think the worst by the weakest. So let's talk about what drove the stunning about him. Why like the cloud kings one as these vicious pullbacks? And I just think that they will come back. Eventually, I didn't understand that. It's about more than just earnings service now and no w poured great quarter late October. Nobody cared the stock rally one point four percent. The next day before quickly plunging to new lows.."