Why Jim Cramer Is Taking Profits in Stock Market Monday

In Monday's stock market breakdown, Jim Cramer talks Pfizer, McDonald's Tesla, cyberattacks, stimulus and more.
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Happy Monday! 

For many on Wall Street, this is the last full week of work before we bid adieu to 2020 and welcome 2021. 

Jim Cramer said his Action Alerts PLUS charitable portfolio is using Monday's trading action to take some profits during TheStreet's daily live show. 

"We’ve got some very big gains...and we want to take some money off the table," Cramer said. 

Cramer said his decision to sell some stocks Monday shouldn't be confused with market pessimism. "Opportunities abound," Cramer said, adding that, "Profits have to be taken to balance opportunity with being too long in a period where we’ve had such a big run."

"It’s ok to make some sales to lock in gains," Cramer said.  

In the video below, Jim Cramer talks Pfizer, stimulus, cybersecurity stocks, Tesla  (TSLA) - Get Report, McDonald's  (MCD) - Get Report and more:

And there's also the exciting news that Pfizer PFE and BioNTech BNTX began distributing doses of its vaccine, which received an emergency use authorization from the Food and Drug Administration.

The doses will be sent from Kalamazoo, Michigan to hospitals in all 50 states.

And, yes, we're still awaiting news around a stimulus bill. 

Sen. Joe Manchin, a Democrat from West Virginia, told “Fox News Sunday” that his bipartisan group would "have a bill produced for the American people (Monday), $908 billion.” He said he was confident Congress would pass a relief bill before the holiday break.

Details were hammered out on small business help, vaccine-distribution funding and other key areas, Bloomberg reported, citing both Democratic and Republican lawmakers. Senate Majority Leader Mitch McConnell's demand on a shield for employers from virus-related lawsuits is a sticking point for the bill.

Outside of the politics around a deal, Cramer, again stressed the desperate need for stimulus heading into the end of the year, particularly as the eviction moratorium is set to expire. 

"It just doesn’t seem to register. Washington is stubborn in not helping. I don’t want to say it’s cataclysmic but there could be a huge number of jobs lost," Cramer warned. 

Daniel Kuhn contributed reporting to this article. 

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