For weeks leading into historically volatile September trading, Jim Cramer warned to anticipate and prepare for some of the worst trading of the year. That time has finally come with stocks opening sharply lower to kick off the trading week.
As of intraday trading Monday, the Dow Jones Industrial Average was down 531.25 points, the Nasdaq Composite was down 286.58 points and the S&P 500 was down 71.54 points.
“What I find interesting is the selloff is in China and stocks are acting as if somehow we’ve been big in China," Cramer said, calling the sell off in bank stocks particularly overdone.
"What matters is that everything getting thrown out," Cramer added.
While Cramer said it's too early to become a buyer, investors should begin looking and be prepared to eye opportunity.
"You don't stay negative when everyone else gets negative, but people aren't negative enough yet," Cramer said.
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