Jim Cramer on Stocks to Sell While the Market Is Volatile

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Jim Cramer weighs in on the stocks to sell while the market is volatile.

Watch Cramer answer five key questions that Wall Street is facing here. 

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Video Transcript:

Katherine Ross:
What about selling? What stocks should investors be selling right now?

Jim Cramer:
You have to sell the oils because what happened is is that this... The Russians versus the... uh, versus the Saudis have made that group, um, which is very levered. Um, what I've been saying they're uninvestable. So now they're just more uninvestable, Katherine.

Jim Cramer:
I mean, I- I- I'm saying that they're tobacco. Now, the, uh, the executives in the industry don't understand when I say they're tobacco. What I'm saying is is that the tobacco stocks are very high yields but they didn't... they don't attract buyers.

Jim Cramer:
Uh, and I think that that's what's going to happen with the oil companies. Some of the yields are much too big and that's a bad sign. They can cut them. Remember, um, we still own a sliver of BP which I want to slit my throat about. You know, I want, you know, this throat slitting positions are Viacom, Tyson, and BP.

Jim Cramer:
Uh, thank God we got out of Schlumberger. I did sell some BP higher but, uh, these are positions that are not investable. They're not investable because the new younger portfolio managers just want nothing to do with them.

Jim Cramer:
Merck's up a dollar. See, that's good. Merck drops to 78; you buy some more Merck at 76. I don't know if it's perfectly run but it's- it's a good franchise. Uh, they're doing this, um, sleight of hand thing to be able to bring out the value of the high growth drugs. That- that really hurt them.

Jim Cramer:
I vastly prefer AbbVie. Um, AbbVie has got a very important...today where they will talk about it, an Allergan drug that can... You know, I'm the spokesman for the American Migraine Foundation. The Allergan drug, uh, stopped a migraine in its tracks and there's never been a drug like that.

Jim Cramer:
You know, there's this Excedrin thing that doesn't really work that well. Can I just say, like, Walmart at 120. The enthusiasm of the machines for Walmart, and it's probably some ETF, is extraordinary because nobody really bought the stock up three.

Jim Cramer:
See, one of the things that you see when you see the- see- No. You know, the regular companies, um, the- uh, you- the regular investors, they don't buy up nine, but the algos do. Remember I told you the algos are set to go higher today. And, uh, that's if you... It's another- or you can call that manipulation but now you just call it investing.