Jim Cramer on Nasdaq Selloff, Semis, Boeing, Pfizer, GameStop

Jim Cramer and Katherine Ross are discussing Bernstein's note on Boeing, the second chance market, reopening the economy and Pfizer.
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Jim Cramer and Katherine Ross are discussing making stock picks, Bernstein's note on Boeing  (BA) - Get Report, the second chance market and Pfizer  (PFE) - Get Report and much more in the video below: 

Looking to Make Some Stock Picks?

"Not all stocks can go up at the same time, Jim Cramer told his Mad Money viewers Monday. There simply isn't enough money to push everything higher at once, he said, and that's how rotations are born," TheStreet's Scott Rutt wrote in his Mad Money recap. "For decades, investors have been told that stock picking is too hard and they'd be better off with an index fund. And while Cramer said he agrees that index funds are great for retirement accounts or those with little time or inclination to pick their own stocks, for those that do, stock picking is the place to be."

"That's because all it takes to be a great stock picker is to use your powers of observation. We all know consumers are spending again, and that's great news for retailers like Walmart (WMT) - Get Report and Costco (COST) - Get Report," he continued. 

"People are still spending on their homes, which makes Lowe's (LOW) - Get Report a great buy, along with everything that goes into Lowe's, like Whirlpool (WHR) - Get Report appliances and Stanley Black & Decker (SWK) - Get Report tools. RH (RH) - Get Report continues to be a favorite," Rutt wrote.

Jim Cramer's Thoughts on the Second Chance Market

"...We are in one of the greatest second chance markets I have ever seen. Take the drug stocks. Two weeks ago they walked into an abyss that some thought they would never get out of. Merck (MRK) , Bristol-Myers (BMY) and Eli Lilly (LLY) all reported some of the worst quarters versus expectations that I can recall. Heck, these are drug stocks, they are supposed to report exactly what the analysts say they are and one penny more. Everyone knows that's what they do," Cramer wrote in his Real Money column on Tuesday, May 4.

"Which is why these numbers were so shockingly bad. Making it worse, the weakness stemmed from bell cow drugs, the ones that are supposed to do well if we are in the depths of a depression," he continued. "The only drug company that was able to put up decent numbers? AbbVie (ABBV) . The savior for AbbVie? None other than Botox. I knew there had to be a reason AbbVie paid all that money for Allergan. I guess people can only stay away from wrinkle-free skin for so long before they decide that it's more important than risking COVID."

Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club in Tuesday’s Daily Rundown.