This column was originally published on RealMoney on Feb. 27 at 9:18 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
We are looking at serious declines, a 2% rout across the board. Can't be complacent about these, even as you know that what we will probably see is a rotation into the
Procter & Gamble
world because of
worries about a global slowdown.
We've had a market all year where the
and Altrias of the world have flatlined while every cyclical has been bid up madly. I see that being undone swiftly today.
So what happens? A
get smashed even though we know orders are going up. You see pain in the
Black & Deckers
You get some spillover into weak tech, maybe
. People forget about the bull market in cable and fiber and sell the retailers because of
and bad guidance with
Make no mistake about it, this is a rotation into a slower-growth world as all year, all we've heard about is a faster one.
Watch Altria. It has been the worst. Could be among the best in today's trading.
At the time of publication, Cramer was long Altria.
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