Tags: Cramer | General Electric | bullish | stocks

CNBC's Cramer Still Bullish on Stocks

By    |   Thursday, 06 March 2014 03:24 PM

CNBC commentator Jim Cramer hasn't lost his enthusiasm for stocks, even with the market at record highs.

"Yes, I think some stocks are frothy," he said. And where that's the case, profit-taking is appropriate, Cramer said.

But, "the vast majority are anything but frothy. In some cases they're cheap," he said. And that has created buying opportunities, Cramer said.

The Standard & Poor's 500 Index reached a record peak Thursday and stood at 1,880.05 late in the morning.

Cramer disagrees with those who compare this period to the peak of the Internet stock bubble 14 years ago. "First, in March 2000, we began to see lots of intraday reversals and some gigantic insider selling," Cramer said.

General Electric CEO Jeff Immelt just spent his $2.6 million bonus on GE stock.

"Another reason why I can't be so negative is that the vast majority of professionals I talk to are, indeed, skeptical," Cramer said. When the sentiment leans heavily in one direction, that's a good sign to go in the other direction, he said.

Some other experts are bullish, too.

"The economic recovery in the U.S. is certainly on track, although subdued," Richard Hunter, head of equities at Hargreaves Lansdown in London, told Bloomberg.

"The latest set of economic data provides an opportunity to bolster markets, which are testing new highs, particularly after tensions between Russia and Ukraine seem to have become political rather than military."

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Markets
CNBC commentator Jim Cramer hasn't lost his enthusiasm for stocks, even with the market at record highs.
Cramer,General Electric,bullish,stocks
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2014-24-06
Thursday, 06 March 2014 03:24 PM
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