Jim Cramer says the market isn't fooled by negative sentiment and neither should you be

I call this whole process "selective negativity." We get a change in employment figures and we're told that Irish bonds are now the thing. We get a prospective bidding war for BJ's and we're told to focus on the currency wars. Yeah! That's the new thing to worry about.

The bottom line, here's what really matters: the market itself isn't focused on the new negatives. It's focused on what's truly important, not faddishly important, which means the employment claims and the buyouts, not the bogus, blown-out-of-proportion, doom-and-gloom stories that the media's addicted to, including now the G20.

The market isn't fooled, which is why it spent the rest of the day rallying from the ugly open. You shouldn't be fooled, either.

~Jim Cramer, CNBC's Mad Money with Jim Cramer, November 10th, 2010