"In one week, we had one of the greatest bear markets in history," Jim Cramer said on Tuesday's "Stop Trading!" segment on CNBC. "Then we had one of the greatest bull markets in history."
Cramer said the action isn't encouraging in either direction. For example,
is up 10 points this week. "I mean, this is not a small-cap stock," Cramer said. "It's one of the world's largest companies!"
has become "the only beacon in the market." If it goes up, the market goes up. If it goes down, the market goes down. "The moment that Apple announced the MacBooks, the stock has just been on a one-way trip down, and it's sending the rest of the market down," Cramer said. "I'm just struck. ... There's got to be a little more to it."
"lowered estimates, and the stock didn't go down," Cramer said, "which has now sent me on the hunt for high-quality industrial companies that lowered estimates."
but said he doesn't think they're "there" yet.
"Perhaps industrials represent some value," he said.
At the time of publication, Cramer had no positions in stocks mentioned.
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