Jim Cramer Says Wait a Few Hours Before Buying Into the Rally

Jim Cramer said wait until mid-afternoon to decide whether or not to buy stocks Wednesday. Cramer said midday margin calls could put pressure on stocks, so he advises waiting until after 2pm to see how the market performs before deciding whether to buy. Cramer also said Tuesday’s selloff astonished investors due to the ‘total lack of anything happening that provoked the decline.’ Cramer said while data from China was bad, it was in line with weaker expectations. Following Tuesday’s selloff, Cramer found opportunity in several retail names including Dollar Tree (DLTR), GameStop (GME), Best Buy (BBY), Walmart (WMT) and Target (TGT), which Cramer’s Action Alerts PLUS portfolio owns.