Investors shouldn't get too comfortable with the market just yet.
Jim Cramer says that the market is due for a down day after being up the past two days.
The founder of TheStreet took a glance at the markets.
Are the Big Pharma Stocks Broken?
In his RealMoney column Thursday morning, he wrote about the toxicity of the safe-haven big-cap drug companies.
He ends his column by saying, "These used to be safety-first situations. No longer. I would rather have a safety pin jabbed into my hand than to try to hold on to any broken drug stock through these kinds of downturns. It's not just rough for tech, not just rough for FANG, not just rough for housing. It's rough for the once-safest stocks in the book, which are now as toxic and broken as I have ever seen."
Don't Rush Into Apple Just Yet
Apple (AAPL) reports earnings Thursday evening.
Cramer used an anecdote from his dad's military experience to explain his hesitation about Apple.
He said that the marines (or, in this case--the rest of FANG) storm the beaches first in order to clear them for the following soldiers. However, Cramer says that the beaches haven't been cleared for Apple yet.
For now, it's a waiting game.
TheStreet's Eric Jhonsa will be following the Apple earnings and the call live on TheStreet. The live blog will go up right before the market closes Thursday afternoon.
Cramer was asked whether or not an investor strapped for cash should sell the highest performing name in their portfolio.
Cramer said no. "Sell your worst," he advised. He followed up to say that investors should "sell [their] worst to fund [their] best."
Got a question for Cramer? Reach out to @KatherineRooss on Twitter or email her at email@example.com.