Jim Cramer: Be Cautious Trading in Market Driven by Coronavirus Vaccine Hope
Jim Cramer wrote about reopening and the necessity for it.
"Why the heck are people so optimistic that we can reopen the country without any serious health consequences? Where does this confidence come from? Has anything really changed? Did we adopt universal testing and contact tracing in each state when I wasn't looking?" He noted on Tuesday in his afternoon Real Money column.
"We simply can't stay closed anymore. People have to go to work. This is a compromise position that I totally get. At a certain point, we have to say there are going to be necessary casualties, but it's time to allow people a chance to put food on the table again. People, we hope, will be careful and use some serious hygiene they didn't know about before. Hopefully, they will wear masks. Maybe OSHA will assert itself, if it hasn't been dismantled, and demand that workers wear masks in all stores and restaurants to keep customers from getting Covid-19 and customers do the same to not infect workers,' he continued.
So, what would that reopening look like? Should there be an expectation that the markets are just going to be driven by hope until we get a vaccine?
Watch the full video above for Cramer's full take.
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