Jim Cramer: Take Some Off If You Have Big Gains
How should investors approach taking some off in the current market environment?
Jim Cramer has some advice.
"Well, I think that you take a look and see where you have very, very big gains. If anything is awry with those companies or there's something where there's a lot of insider selling or where there's some sort of a degradation in growth, you know, that makes it pretty easy. But the stock would be down a lot. But discipline says that when you have a double, you take some off the table. And I'm talking about stocks that have, you had a substantial gain and you want to take some off so you'll be able to buy some if it goes down, say 10, 15, 20%. Sometimes we screw it up. We took profit in Shopify, it then dropped 100 points. We didn't buy, and then it went up 600 points. That was our bad, but our bad was not that we took it off. Our bad was when we didn't get back in. Now, you can say, "Well, most people can't." I would say, "No, no. "We dropped the ball. "We should have been able to get in." So I urge people recognize that we have a style. That's been the style of action alerts since we started it, and given away 2.7 million, by the way. And that is to not be greedy. And I find that common sense should prevail, and common sense says when you have a huge gain or double or something like what we had in Nvidia, you take some profits," said Cramer.
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