On Mad Money, Jim Cramer urged investors to embrace the secular growth trends, but also include the best of the recovery stocks.
TheStreet's Katherine Ross spoke with Cramer about the new day trader Dave Portnoy, buying shares of Norwegian Cruise, and not selling BP stock.
Day Trading With Dave Portnoy
Dave Portnoy, the Barstool Sports founder, started his "Davey Day Trader" videos on Twitter which brought a new breed of traders on Robinhood with him. Risk comes with day trading like the one last week happen where the Dow erased all recent gains. What media outlets like Marketwatch failed to realize before they took Stool Presidente's Warren Buffett bait is that Portnoy is a part popular podcaster, part 90's wrestling heel.
If Portnoy plans to make this a permanent activity and wants to avoid suboptimal results, he should follow the advice on Real Money or become an Action Alerts PLUS club member. Cramer wants to remind all the Stoolies out there that you need to have some skill if you're day trading because it's not a game of chance.
Norwegian Cruise Line Stock: Buy or Sell?
Last month, Credit Suisse spoke about the resiliency of the cruise industry in the past as a reason why they believe cruise lines will weather the storm. Carnival's Cunard canceled their sailings until November. Last month, Norwegian (NCLH) - Get Report saw its future bookings rising despite earnings sink.
Cramer is picking one cruise line to buy shares of when a vaccine is finally approved.
Do Not Sell BP Stock
BP shares were sliding today after the warning call of a longer Covid-19 impact in the oil market. The fear is that weaker demand and lower oil prices are likely to dominate markets for the foreseeable future. Last week, (BP) - Get Report planned to cut 10,000 jobs amid the oil price drop.
Cramer hasn't always been the biggest fan of the oil stocks but what would he do with BP shares after yesterday's latest news.