Is it too late to buy safe havens--especially when the market is rallying in intraday trading on Monday, March 30?
Jim Cramer breaks it down for investors.
Watch the full video above for more.
Jim, we're now heading into the third week of many Americans being kept up home because of the coronavirus. If Americans haven't invested in safe havens, but they're looking to, is now the time or is it just too late?
Well, it is too late until we get the next algorithmic sell- off because of oil. I mean, for instance, the action alerts, we own J&J and I've been waiting for J&J to go up because J&J's doing well. Well, so today Alex Gorsky talks about a vaccine that they will make absolutely nothing on. Nothing. And the stock is upset to 131 and I think we're up on it now. Well, I mean, no. You can't buy that yet because it's up seven for no reason. That's a dicey game. When you buy Amazon up 66 because you realize, well, I bought a lot of stuff on Amazon, well that's a silly game. You don't want to play that game. Google has a bunch of number of cuts. It's up 23 on a recommendation. Eh, I don't want to do that. I mean Apple, there were several number of cuts and it's up four. I don't want to do that.
Abbott Labs is something we have on tonight. At one point it was up 10. Now it's up five. When something, maybe it makes some money on. What's moving right now, Microsoft's up eight. What's moving right now are the things that will go down if oil breaks 20. Remember, it's all algorithmic. These gains are unnatural. They're dysfunctional. They're not what you want to see. I know there used to be a lot of people on Twitter said, "Jim, you only complain about when it's down." Now I only complain about when it's up because when it's up it attracts people in a bear market. It makes people excited and I don't want that. That's bad. I've been trying very, very hard to discourage people from buying on up days.