How are you feeling about the markets?
Jim Cramer is explaining why he's keeping a close eye on the markets and what he thinks of oil soaring.
Let's kick it off with oil...
"Well, I think that the dollar's going lower because the Fed is probably going to cut and that does send gold higher also sends the oil higher. We've got the Straits of Hormuz problem too with Iran and the Iranian tension, but I don't think it's going to go much higher just because the U.S. oil companies all need cash flow," said Cramer/ "And what they do is they sell the futures when it gets to $60, and then that kind of caps it. Some days can go a little bit through there, but that's one of the reasons why oil does it ever rally like it used to. The U.S. companies lay off a lot of oil through the futures markets."
So, why is Cramer feeling cautious about the markets? It's pretty simple.
He explained, "I've gotten a little more cautious just because I see a lot of greed. I see a lot of euphoria and it worries me if only just because we've had so many so many IPOs..."
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