Jim Cramer: Markets Are Retesting Bad Levels of Friday
Jim Cramer has some thoughts on the market.
"...Most of the stocks I follow are already down. I think that they have to kind of retest the bad levels of Friday, because the Friday run was really just driven by algorithms. So I think that that happens. We're putting some money to work for Action Alerts PLUS...But I just want to emphasize that when you get the reversal on Friday, you had all the safety stocks get clubbed. That was wrong and we bought those and then today you have all the cyclicals getting clubbed and that's right because the world is going to slow and slow pretty quickly because we're going to very quickly have a stay at home economy and the analysts who recommend the cruise stocks or the gambling stocks or the restaurant stocks, I don't think they understand the way people think. Wall Street's not very good at trying to figure out the numbers when people don't gather and that's what we have," said Cramer.
Watch the full video above for more.
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