Jim Cramer says that there are five stages of investing grief that investors are facing in this market.
"Investors looking to bottom-fish the market selloff have a lot longer to wait, Jim Cramer told his Mad Money audience Thursday. Cramer reminded viewers there are five stages of grief, even in the financial markets, but most investors are still stuck in denial," wrote TheStreet's Scott Rutt in his Mad Money recap on Thursday night. "We all know the five stages of grief. It starts with denial, then anger, then moves to bargaining, depression and finally ends with acceptance. The market's recent scare over inflation and rising bond prices is one we've seen before, which is why Cramer cautioned that we're nowhere near the bottom."
"We need to see a lot more anger, more bargaining to get to acceptance," Cramer said. That process takes days and weeks, and it's painful. That's why Cramer said the only prudent move right now is to raise cash and sell on any strength and not to give in to "bounce buying."
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