Cramer’s Advice About Getting Into The Markets Ahead Of Brexit Vote

Friday will be a big day for U.S. markets following the Brexit vote. While Europe is seeing a big rebound Monday with the latest polls showing a shift towards the 'remain' camp, TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer says we should not rebound as much because U.S. markets didn't fall as far as its European counterparts. Investors he cautions, should wait for things to cool off. If you do invest, 'you're better off with a stock like 3M (MMM) - Get Report than the banks. They don't work,' says Cramer. They're up because interest rates are up. Action Alerts is very underweight the banks. 'They're cheap but cheap does not cut it in this market.'

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.