Tags: cramer | dow | 10000

Cramer: Dow 10,000 by Year-End

By    |   Thursday, 06 Nov 2008 05:25 PM

The financial markets are volatile, sure, but stock guru Jim Cramer thinks now may be a time for traders to buy.

"It’s not an investable market. It’s a tradeable market," said Cramer. "The market will be at 10,000 before year’s end. Maybe before that. We’re not going to have a depression like in 1929."

There's a big psychological change going on here, Cramer said in a video featured on TheStreet.com.

"There’s too much money coming in. Bears are turning to bulls. They think the pricing reflects a depression."

"But, this is more reflective of a recession. All the action by the government has taken that (a depression) off the table. I do not believe you need to avoid this market."

There are some individual stocks that Cramer is eyeing.

"The Mercks and Pfizers of the world are very undervalued," said Cramer.

"There are many reasons to buy. To sell, there is only one reason. That would be a global, worldwide depression. The swift action of the last two weeks (of the U.S. government) takes that off the table."

Yet Cramer believes that traders, not investors, are likely to make money now.

"I don’t think investors can because of the stock volatility and ranges I haven’t seen before," said Cramer.

"Nucor is at $38. Then it's up to $42. Then it's down to $32. We are seeing ranges where you better have something else going for you, like a dividend. But there is so much money coming in and so much money coming out that, until we see a huge spike in unemployment, or another hedge fund going under, you are safe."

The markets have fallen by 10 percent since the election as bad economic news swamped investors. Some see little reason to buy anything right now.

"Everything is so dismal right now. It's just an endless flow of bad news and no one wants to buy," Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams told CNN.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
StreetTalk
The financial markets are volatile, sure, but stock guru Jim Cramer thinks now may be a time for traders to buy. "It’s not an investable market. It’s a tradeable market," said Cramer. "The market will be at 10,000 before year’s end. Maybe before that. We’re not going to...
cramer,dow,10000
329
2008-25-06
Thursday, 06 Nov 2008 05:25 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved