Robbing Peter to pay Paul.
That was the title of Jim Cramer's Monday evening Real Money column.
"You would think that, though, it would impact every stock. Nope, this market is always robbing Peter to pay Paul and this time Peter is the Great Reopening trade and Paul is the "doesn't work like that." Peter is always paying Paul in this tape; accept these two trade rubrics. In this case, Peter's the cyclicals and the banks, and Paul is the stay-at-home winners that have been punished for ages. It's a strange rotation, given that Goldman Sachs (GS) is talking about 10% gross domestic product growth and a general belief that we are about to have a repeat of the Roaring Twenties, the last time a pandemic came to a conclusion," Cramer wrote.
"How about the robbed Peter? I think that the money comes right back to the cyclicals and this is a rally-based on the emotional comments of [CDC Director Rochelle] Walensky. If she hadn't dropped the "impending doom" comment, we might have spent more time pondering the possibility that everyone who wants to be vaccinated will be, maybe by the end of April," he continued later on in the column.
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