Jim Cramer weighs in on how his portfolio has been waiting and trimming throughout 'hell week.'
Here's what Jim Cramer is thinking when he's keeping his eye on the market.
"I've been saying that one we'll get really oversold. Maybe begin to get used to the idea that there's still a process perhaps to do some trade, and that it's not just, there's never going to be a trade deal. Uber (UBER) will have come and gone and maybe we'll say, you know what? That's like Lyft (LYFT) when we had a moment of rationality and they stopped pricing the deals too high," said Cramer. "We lose the exuberance. that came with Uber and we get a little more sober attitude and we realize that interest rates are low and stocks are valued well and we start over and we just start over as if it didn't happen...I think one of the things that yet that to recognize that is the reason why we didn't have more people come in and buy Uber wasn't so much what the president did."
"It's what the Chinese will do. So people didn't want to sit there and say, you know what? I want to own some Uber and not worry about the retaliation that the Chinese will our exhibit. That's where we're now waiting," Cramer continued. "That's the next thing is what will the Chinese government do. So one of the reasons why we were saying the hell week is going to last the whole week is that we need to see what the Chinese do and that's why we've been saying Tuesday is the day that we probably want to be looking [for] a better opportunity to put money to work."
Did you miss Cramer's members-only call where he broke down what investors need to know about managing your portfolio during volatility and his thoughts on Uber's IPO. You can catch the replay here.