CNBC’s Jim Cramer said on Tuesday that it is okay for investors to have a hard time hovering in the stock market.
“Every day there are people trying to understand broader initiatives-major initiatives, calls for stagflation, calls for the Fed to have to act-but it is almost impossible,” the “Crazy Currency” host said in the three main initiatives Said shortly after the end. US stock indexes closed down for the third consecutive day.
“Alphabet was forced by the big brokers, how could it fall 49 points?” Kramer said, referring to JPMorgan Chase’s decision to reiterate its overweight rating on Google’s parent company. “If the economy should weaken, why would retailers rebound? These are random, unthemed actions…make you feel like a fool as soon as you participate.”
However, Kramer emphasized to the audience that he believes that Wall Street is finding the bottom after weeks of challenging transactions. In the past month, the Standard & Poor’s 500 Index fell 2.42%, while the Nasdaq Index, which is dominated by technology stocks, fell 4.3%. The blue-chip Dow Jones Industrial Average performed relatively well, but still fell 0.66% over the same period.
“Then what do you do? You wait,” Kramer said. “You wait until we are close to the end of the month, when the market has bottomed out in history, and then you are ready to gradually buy stocks during the decline.”
Kramer admitted that it is “difficult to let people relax,” especially when investors are nervous about supply chain challenges, inflation, and labor market strength. He said that from an investment perspective, all three negative factors are relatively new challenges.
“You just need to know that you are not alone. In fact, from the ugly hedge fund data I have seen recently, people who have problems in this market actually account for the majority. So if there is a problem in the market, please don’t Sadness confuses you. It’s incredibly messy there.”
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