Jim Cramer said that we are oversold for the first time in 2019.
"There's tremendous fear--not of missing out, but of big sellers," Cramer said. "After a couple of days [of being oversold] the big sellers say, you know what? The market's down so much, I don't want to sell it anymore...I'm looking at Disney (DIS - Get Report) ," Cramer said.
"I'm outlining a scenario where as you can tell, I'm not talking about negative fundamentals because in the actual negative fundamentals today be at Kroger (KR - Get Report) . Kroger was bad...Kroger's made some personnel changes that are positive. I'm desperate for Kroger. Desperate for the banks. Desperate for Burlington (BURL - Get Report) . Something positive. It had nothing. But maybe there's a sea change in retail because Abercrombie (ANF - Get Report) was good, Kohl's (KSS - Get Report) was good, Target (TGT - Get Report) was good, but I lack ammo to tell people to buy," Cramer explained.
On the flip side, however, Cramer doesn't quite think it's time to sell.
"But, I also lack the ammo to tell people to sell," Cramer said.