NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, says some of the price action in today's session "is a stupid trade."
Specifically, he is referring to the algorithms pushing up consumer product stocks like Clorox (CLX - Get Report), Kimberly-Clark (KMB) and Colgate-Palmolive (CL - Get Report), as well as high-growth stocks such as Amazon (AMZN), Netflix (NFLX) and Salesforce.com (CRM).
Supposedly, these are the types of stocks that will be able to hit analysts' estimates even during a time of slowed economic growth.
But consumer product companies are not delivering like they used to in the past, Cramer reasoned, before cautioning investors to be careful with a similar trade."The market is headed down here, you want to wait right now," Cramer concluded. >>Read More: Audi Q5 Is the Enthusiasts' Diesel SUV >>Read More: Here's Which Beaten-Down Banks to Buy >>Read More: Emerging Market Investors Making Up For Lost Time -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell At the time of publication, the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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