Jim Cramer has some advice for investors who aren't sure how to react to negative headlines.
Here's what you need to know.
Watch the full video above for more.
And I think that, especially next week, we could see more jobless claims come in. Based on that, Jim, when we're not quite sure how the market is going to respond to negative news, what should investors be doing at this point?
Well, we've been back and forth at the Action Alerts. I'm just going back and forth by email with Jeff. We were tempted to try to figure out what we can trim here. I mean, we've got 10% cash. That's not what you should have if you have a giant move here. You probably should go to 12, 13%. But I like the stocks that we have so much. We got rid of a lot of Home Depot at a higher level. I still wish we had some of that. But that's really the only one that we trimmed that I feel that it was bad that we trimmed. I'd like to be bigger in Verizon because Verizon shows you that we are in a recession. And Colgate. We've got some real interesting barbell names. We bought Broadcom, and I think a lot of people might have felt that Broadcom was a mistake, but we're up huge now in Broadcom. A huge winner, Salesforce, that we bought. And it's nice to see the banks, where we've given up so much of the gains, come back.
So, I think what people should be doing is reconfiguring. If you have a stock that is up 30, 40% in a couple of days, and it wasn't protected by the bill, as is the case, say, with Carnival Cruise... Carnival Cruise is up another 2. I just think that's a big mistakes. I think you want to sell that. That's a short cover rally, because I think the bill does them no good at all. Royal Caribbean up huge, again. To me, those are ones that, if you own them, you just got a nice bounce back. You should take it.