Tech Stocks Are a Necessity During Coronavirus, Jim Cramer Says

Jim Cramer said that he's watching the Nasdaq this week. Here's why he thinks it's time to add some tech stocks to your portfolio.
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Wondering what to add to your portfolio next?

Well, if you have very little in tech, Jim Cramer says that it might be time to expand that position. 

He noted that he's watching the Nasdaq closely this week. 

And, luckily for you, TheStreet's Danny Peterson has put together some of the best stocks in the Nasdaq.

Stocks like Zoom, Skyworks Solutions, Workday and Activision Blizzard are all on the list. 

Real Money's Stephen Guilfoyle broke down the market in his Market Recon article on Monday

"I have pointed this out before, but I think that after Friday's action, pointing this out again may be important. After seeing how this index found stiff resistance close to Fibonacci's 61.8% retracement level on April 29, and after Friday's rally fell short of that mark, the success (or lack thereof) of the index on a third attempt to take that line cannot be overstated. Traders will note that the Nasdaq Composite, which is now actually up year to date, struggled precisely around that level of retracement as well, prior to breaking out once again," wrote Guilfoyle.

"In addition, the composite make-up of the Nasdaq Composite across industries, simply appears better suited to perform in either a "reopened economy" or one that is "locked down". The S&P 500 is far more exposed to financials, discretionary types and industrial type names, and remains riskier than an index more reliant upon technology. Just my opinion," he continued. 

Watch the video above for Jim Cramer's thoughts on the market and why he's watching tech. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here. 

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