During his Tuesday "Mad Money" show, Jim Cramer said that the market has been going up because of stocks in the oil, technology and banking sectors, and that those stocks have been fueled by money leaving other sectors, including food and drug sectors.
So Cramer was worried about recent strength in stocks that should be heading lower, such as
. He owns General Mills and Pepsi for his
Action Alerts PLUS charitable trust.
Other stocks that should be heading lower but aren't include
Johnson & Johnson
, Cramer said.
He said that for oil, tech and banking rally to continue, these stocks need to go lower.
On Wednesday, Kraft closed down 22 cents at $25. General Mills lost 30 cents to $51.86, and Pepsi gave up a penny to close at $49.72. Molson Coors was down 15 cents to $42.02, while Eli Lilly gave up 11 cents to $34.43, and Johnson & Johnson lost 15 cents to close at $54.21.
a buy based on the improving commodities market and its low stock price.
Cleveland Cliffs added $2.82, or 10.3%, to close at $30.29 on Monday.
At the time of publication, Cramer was long General Mills and Pepsi.
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