This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stock Under $10 that he thinks could potentially double or triple in the next 6 to 12-months. See what he's trading today with a 14-day FREE pass.

Cramer: Right Now, I'd Just as Soon Be a Seller

Editor's Note: This article was originally published at 6:37 a.m. EDT on Real Money on June 21. To see Jim Cramer's latest commentary as it's published, sign up for a free trial of Real Money.

NEW YORK ( Real Money) -- Look, if it were just U.S. interest rates that were going up and nothing else, I would say: "You know what? Let's see what looks good in the fallout and do some buying." But it is so much more than that. So much more is going wrong. China injected banking reserves last night, or else U.S. stocks would be down hideously again. But no one has a clue really about what's going on in China, and higher rates here cannot be good for fund flows there under any circumstances.

Europe's just bad but stable. But will it remain stable? After all, some of the interest rates in the peripheral countries are creeping up, and we are headed into the traditionally slow summer months.

Brazil's horrendous. Anything you touch down there -- and I have attempted to touch it -- is disastrous. I actually believe it's getting worse, as the country is spending fortunes building stadiums and the like while the people revolt. India's got inflation and slow growth. Japan's made up -- just made up -- and is a huge part of the problem, because it wants a currency war at the wrong time and the wrong place.

There are whole emerging markets in which currencies have been paying better rates for money than the U.S. has. They are experiencing outflows that are, at least to their countries, frightening in the way this was in 1996 and 1997.

In that environment I am supposed to step into the breach and buy a homebuilding stock -- all while mortgage rates could go up 25% in the next few weeks? In this environment I am supposed to buy the stock of a company with low growth, and yield that is less than that of the 30-year Treasury, that needs a weak dollar in order to beat the numbers?

In this environment I am supposed to trust Fed chief Ben Bernanke over the bond market? The latter telling me to forget about Bernanke at the same time that President Obama seems to be saying the same thing in, frankly, a very rude sort of way.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Our Tweets

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs