Magical Trade
Monday, June 5, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Jim Cramer says it’s too early to buy until we find out whether new variant is spreading in the U.S.

by
November 26, 2021
in Trade News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Friday’s sharp decline for stocks, spurred by concerns over a new Covid-19 variant, is not a buying opportunity, according to CNBC’s Jim Cramer.

“We’re going to wake up next week and find one [case] in this country, and I’m not going to recommend anyone buy anything today until we’re sure that isn’t going to happen. And I can’t be sure that it won’t,” he said Friday on CNBC’s “Squawk on the Street.”

RELATED POSTS

Chuck Todd will depart NBC’s ‘Meet the Press’; Kristen Welker to become host

How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future

“No panic. Let others panic. We’ll profit Monday,” he added.

The Dow Jones Industrial Average dropped 800 points at the opening bell, for a loss of 2%. The S&P 500 declined about 1.3%. The sell-off followed the World Health Organization warning on Thursday about a new variant that’s been detected in South Africa.

Cramer said that it makes sense for names like Regeneron and Pfizer to move higher, but that other areas of the market should be avoided.

“I’m reluctant to say this is the time to go buy a retailer, or go buy a cruise ship company because there will be people who are much more risk averse than you and I and then refuse to believe that the scientists can get this under control, so not a buying opportunity,” he said.

That said, Cramer did say there are some areas of the market that look attractive on the sell-off, including Chevron.

“If I had to start buying something today, I would be looking to buy Chevron,” he noted. “There is demand for oil, there will be travel…I’m trying to distinguish between my being concerned about what’s going to happen and what people are doing on the very same day where they may just decide ‘you know what, I can’t take it anymore.’ And I would rather buy from those people on Monday than I would buy from them today,” he said.

Cramer added that Amazon will likely do well on Friday. At the opening bell the stock gained 1%.

Others, however, said Friday’s dip is a buying opportunity.

“Friday is the day after Thanksgiving, probably not as many traders on the desks with an early close today. So potentially lower liquidity is causing some of the pullback,” Ajene Oden of BNY Mellon Investor Solutions said on CNBC’s “Squawk Box.” “But the reaction we’re seeing is a buying opportunity for investors. We have to think long-term.”

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

– CNBC’s Jesse Pound contributed reporting.

ShareTweetPin

Related Posts

Chuck Todd will depart NBC’s ‘Meet the Press’; Kristen Welker to become host

by
June 4, 2023
0

Moderator Chuck Todd attends "Meet the Press Film Festival" event during AFI FEST at TCL Chinese 6 theatre in Los...

How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future

by
June 4, 2023
0

In this article GMF Follow your favorite stocksCREATE FREE ACCOUNT Ford Mustang Mach-E vehicles at a Ford dealership in Colma,...

Borrowers brace for student loan bills to resume — ‘$600 a month, where is that going to come from?’

by
June 4, 2023
0

Djelics | E+ | Getty Images Richelle Brooks' budget is already tight. She doesn't know what she's going to do...

Cramer: This is my game plan for the week ahead after Friday’s surprise rally

by
June 4, 2023
0

What the heck really did happen on Friday, when the Dow jumped 700 points on a strong jobs reading ?...

OPEC+ sticks to 2023 oil production targets as Saudi Arabia announces further voluntary cuts

by
June 4, 2023
0

Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the Organization of Petroleum Exporting Countries (OPEC) meeting in...

Next Post

401(k) to Roth IRA Conversion: Rules & Regulations

4 things couples need to know about Social Security survivors benefits

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net