Jim Cramer's Stop Trading: Pump the Brakes

NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, says some of the price action in today's session "is a stupid trade."

Specifically, he is referring to the algorithms pushing up consumer product stocks like Clorox (CLX), Kimberly-Clark (KMB) and Colgate-Palmolive (CL), as well as high-growth stocks such as Amazon (AMZN), Netflix (NFLX) and Salesforce.com (CRM).

Supposedly, these are the types of stocks that will be able to hit analysts' estimates even during a time of slowed economic growth. 

But consumer product companies are not delivering like they used to in the past, Cramer reasoned, before cautioning investors to be careful with a similar trade.

"The market is headed down here, you want to wait right now," Cramer concluded.

 

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-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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