Tags: jim cramer | bear | stock | market

Jim Cramer: 'Tremendous Contempt for Bear Market'

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Monday, 26 November 2018 02:30 PM

Investment guru Jim Cramer said he hates how the current market is treating investors by literally mauling anyone who ventures near volatile U.S. stocks.

"I have tremendous contempt for this market, because every time you try to make money with it, it cuts your heart out,” Cramer explained on CNBC. “That's a bear market. People don't want to call it a bear market. But what do they need?"

Cramer said on CNBC that he's not using the traditional measures of a bear market and a correction to make his case.

"Who cares about the S&P? It's individual stocks that are down 40 or 50 percent."

A bear market is generally defined as an asset or index decline of 20 percent or more from recent highs. The threshold for a correction is measured as a drop of 10 percent or more from recent highs.

"People come in at 250 [points higher] and get their heads cut off. I just feel ashamed," said Cramer. "It's very hard to be very positive about the market unless you're an idiot. Let it go up for three or four days and then sell some."

U.S. stocks rebounded on Monday after two bruising weeks, as investors picked up beaten-down energy and financial stocks, while retailers gained on hopes of robust sales on the largest online shopping day of the year, Reuters reported.

Cyber Monday is expected to rake in a record $7.8 billion in sales, according to Adobe Analytics, as shoppers flock to online sites for deals.

The S&P 500 entered correction territory for the second time in the year on Friday after it closed 10.2 percent lower from its record closing high on Sept. 20.

High-flying technology stocks have been at the center of the recent selloff, which has been triggered by a number of factors including U.S.-China trade dispute, rising U.S. interest rates and signs of global economic slowdown.

“We were very over-sold last week and that happened in a holiday shortened sub-optimal environment, and markets are catching a bounce,” said Art Hogan, chief market strategist at B. Riley FBR in New York.

“All indications are that the holiday shopping sales are robust, and consumer discretionary is catching a little bit of a break today over enthusiasm over Black Friday, Cyber Monday.”

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Investment guru Jim Cramer said he hates how the current market is treating investors by literally mauling anyone who ventures near volatile U.S. stocks.
jim cramer, bear, stock, market
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2018-30-26
Monday, 26 November 2018 02:30 PM
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