Why Jim Cramer Is Focusing on Leadership During the Market Selloff

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Jim Cramer is focusing on leadership as the market plummets. 

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 Jim Cramer: Well, I think this is a moment for leadership. It's a moment where we need fiscal stimulus to the point where we're not concerned. I don't care if it costs $100 billion. This is a moment where we need to be able to get the best minds in the world together and be able to solve this. I don't think that should be left to just the drug companies. It's a moment where we need tremendous leadership to be able to show that whether it be we have enough kits or whether we have enough hospital beds, if we don't then let's build them. I know that I would feel more confident if we had those things. Otherwise, we have to wait until lower levels. I don't regard, for instance, buying Walmart down 44 cents as a really great opportunity. I want stocks. All stocks to be down. Stocks should be put on sale. I'd mentioned Walmart only because like that's, well, I mean are you kidding me?

Jim Cramer: I mean, I don't think that those should go down. I also don't think that anyone should reach for yield with any company that has a balance sheet issue. Therefore, Chevron down 15 is not an opportunity as much as I think that Chevron's a well run company. I know that after speaking with David Faber, he believes that the oil crisis is front and center. I think the public health crisis is front and center and we'll be able to deal with the oil companies. There's a handful of oil companies that lose money at these levels. Surprising number that don't. Can oil stay lower longer? Absolutely. And that would change things, but I need to see leaderships in the absence of leadership. I just presumed this going to be a recession. I think they'll be hit, obviously when we're about to go into recession last.

Jim Cramer: If we fell substantially to the level of, you should be looking at December of 2018 and if that's the case, would do a retest to that and that's what you have to be prepared for. So if you're looking for a retest, it's going to be retest of the 2018 lows and there I would be doing some buying. There are some opportunities already, but I just don't feel like you want to commit a lot of capital. We own AB V for action alerts. You can buy that right here.  

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