Jim Cramer: The Wrong Stocks Are Going Higher

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What's Jim Cramer watching in the markets Tuesday?

He broke down his latest thoughts on TheStreet Live. 

Watch the full video above for more.

Video Transcript:

Katherine Ross:
Jim, what's top of mind for you this morning?

Jim Cramer:
Top of mind for me is the wrong stocks going higher. I think that at the end of the month what happens is people say, "Okay, I want to buy some of the losers betting that they're going to turn into the winners." So there's rush of buying to the oils, a rush of buying to Royal Caribbean, Norwegian. The betting that these companies who've seen their bottom and they went in and I would rather buy companies that do well in the new economy, not the old economy. I prefer a companies like Zoom, which is down today. Don't mess around. The world's changed and if you want to buy Chevron with the idea that it's going to pop from 73 to 76 go ahead. Make my day. I think that what matters is you think about the new economy and the new economy does not necessarily include some of these oil stocks where the price of oil is incredibly low when you get down to where it's actually coming out of the ground.

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