When everybody is bearish, there's nobody left who will sell, says Jim Cramer

Summary

• Jim Cramer argues the stock market is extremely oversold based on multiple sentiment and technical indicators, creating a buying opportunity.
• AAII poll shows 52% bearish sentiment vs. 30.4% bullish, a highly unusual skew suggesting few sellers remain.
• CNN's Fear and Greed Index is in "extreme fear" territory, historically a contrarian signal.
• Market Edge oscillator for the S&P 500 reads -7.5, indicating extreme oversold conditions; similar past readings led to significant rallies over 30 days.
• Historical precedent: when the oscillator hit -10.62 in April last year, the S&P 500 rose 13.6% in 30 days.
• Geopolitical risks from oil price spikes due to attacks on Iran's South Pars gas field and Qatar's LNG facility add uncertainty, but market sentiment may override.
• Cramer recommends buying into oversold conditions, as history suggests a "meaningful rally" is likely, and the Charitable Trust made purchases based on this.
• He is explicitly bullish on Reddit (RDDT), citing its valuable property, active user base, and undervalued advertising potential at 27 times earnings.
• Acknowledges uncertainties like geopolitical events and presidential statements, but relies on historical market behavior for medium-term outlook.
• The thesis is centered on mean reversion from extreme sentiment, with a 30-day timeframe for market rally.