The market has it wrong, Jim Cramer said Monday on
's "Stop Trading!" segment.
What does that mean? Traders are selling down the stocks that do well in a slowdown or recessionary environment, names like
Procter & Gamble
In fact, stocks like these are the one that should be bought, he said.
The liquidity worries weighing on the market in recent weeks have made it very difficult for traders to make the right play, he said, and many are wrongly expecting an emergency
meeting and rate cut.
Don't hold your breath, he suggested.
"I think the Federal Reserve has a game plan," he said, "and the plan is to wipe out anyone who speculated."
The Fed is likely expecting a recovery for next year as the election approaches, he believes.
At the time of publication, Cramer had no positions in stocks mentioned.
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