Jim Cramer's Watching Oil Next Week
What should investors watch next week? What will Jim Cramer watch next week?
One big thing: Oil.
"Live by momentum and you'll die by momentum, Cramer cautioned viewers. Over the past few weeks we've seen recent buying in the travel, retail and the oil stocks, and Cramer said the culprits have been new, inexperienced investors," wrote TheStreet's Scott Rutt in his Mad Money wrap-up. "New investors want to see quick gains, so they forego index funds for whatever individual stocks are going up the most. And since stock splits are a thing of the past, these investors tend to stick with stocks that trade for less than $10. With so many investors crowded into a limited number of stocks, and none of them knowing how to read a balance sheet, it's easy to see big gains in a short amount of time."
And Real Money expert Carley Garner also wrote about oil back on June 9.
"Despite the naysayers, crude oil futures have made a miraculous recovery from the crash and burn experienced earlier in the year. While we are hearing increasingly loud chatter by speculators suggesting the current rally is unsustainable, we would like to point out that oil has simply returned to the prices seen after, not before, the price war among OPEC Plus countries," wrote Garner.
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