As stocks continue to sell off into intraday trading with all three major indices plunging as of 10:00 a.m. ET, Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that his eye is on the FAANG stocks.
Is this the rollover moment pundits across Wall Street have prophesied?
Cramer said that the stocks that are bottoming are the ones that are finally to catch the notice of and receive downgrades from Wall Street analysts.
Lacking a crystal ball, Cramer said your best bet for gauging the market all comes down to his beloved FAANG stocks - Facebook (FB) - Get Report, Alphabet (GOOGL) - Get Report, Apple (AAPL) - Get Report, Amazon (AMZN) - Get Report, Netflix (NFLX) - Get Report - which have been largely immune to recent selling.
“Key to the rollover is do they [sellers] finally get to FAANG,” Cramer said.
However, Cramer added that this is far from your moment to give up hope and stop looking for stocks to buy.
“I can’t say I love the market, but if you don’t nibble on something, you’re foolish...You have to find something you like,” Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/19/21