“We’ve been in this selloff for over a month and I still think it’s a tougher time than most investors seem to believe,” he said. “It doesn’t matter. We have money for the charitable foundation – I hope you do too. Money may not be king here, but it certainly isn’t either a pawn.”
One cause for concern is the attractiveness of the bond market, Cramer said, with some investors drawn to risk-free Treasuries. Stocks will decline if long-term bond yields continue to rise, he added, noting that this week’s series of colossal bond auctions could hurt stocks. He also noted that many investors believe earnings are the most important factor when evaluating stocks, saying some recent market gains based on earnings could be short-lived.
Cramer mentioned Wednesday’s monthly meeting for the CNBC Investing Club’s Charitable Trust, where he found himself “lounging, hedging and warning.” on the short-term performance of many stocks.
“When you own more than 30 stocks and can only recommend half a dozen stocks to buy at that particular time, that’s the ultimate sign that cash is available. [a] tower,” he said. “It’s not king, because there are still stocks worth buying here – if cash was king, you would sell, sell and sell – but there are too few at the moment to warrant a purchase. give a fist. »