The stock bull market is stronger than even the most bullish investors believe, says CNBC's "Mad Money" host Jim Cramer.

"I believe that we are in a surrealist moment where even hardcore optimists are blown away by this bullish stampede," Cramer said. "Right now we have a bull that's crushing even the most skilled of matadors. We old timers have always been taught not to chase. We have learned that you will always get your chance. That may not be the case this time around."

Cramer cites three defining factors that set this bull market apart from other rallies.

Editor's Note: Billionaires Dump Stocks. Prepare for the Unthinkable.

The first factor is that investors usually sell a stock on good news in order to take profits, believing the price won't get much higher soon. But that's not happening this time around. Instead, stocks continue rising even after the market absorbs the good news.

"That's a totally shocking development when compared to what's been happening for so many years now"

The second factor is that stocks typically fall after rising on good news to "fill in the gap" before rising more. But lately, stocks keep on rising, Cramer said, naming Williams Sonoma and Restoration Hardware as examples. "They reported upside surprises, gapped higher and never pulled back."

The final factor Cramer cited as being especially astounding in this bull market is the fact that stocks continue rising after missing expectations.

Just look at 3M, he said. The company missed its quarterly estimates and issued a gloomy outlook. Not surprisingly, its stock fell from 107 to 103. Normally, you'd think it would continue falling, but instead it's actually higher than it was before it released its quarterly earnings.

"That's unheard of. I can't believe that this stock could roar higher after that miss," Cramer exclaimed.

We could be witnessing the beginning of a long-term bull market, economist Anatole Kaletsky wrote in an opinion piece for Reuters. One reason is time. Stocks that were ridiculously expensive in the high-tech boom 13 years ago have finally become cheap, he said.

Conditions in the United States and Japan are improving, growth in China and most of Asia is stabilizing and stagnation in much of Europe may not be worse to the global economy than Japan's troubles were in the 1990s.

Plus, billions of new consumers and producers are being added to the world economy that is being reorganized around capitalism and free trade, Kaletsky pointed out.

"By the time the reasons become obvious for a bull run on Wall Street, it is usually too late to join in," he wrote.

Editor's Note: Billionaires Dump Stocks. Prepare for the Unthinkable.