Jim Kramer on Tuesday advised investors to use the rallies as an opportunity to sell and to better deal with volatility in the currently volatile market.
“When things are looking really awful and we are down for days and days and days, don’t despair, all you have to do is be smarter. Raise some cash going up, and brace yourself for the next drop if oil prices” or the Russian invasion of Ukraine become more aggressive,’money mad‘ said the host.
Kramer’s comments come after the markets heading up On Tuesday, after weeks of being battered by Wall Street fears of Russia and Ukraine warAnd the high inflation And the covid spread. The Dow Jones Industrial Average rose 1.8%, while the Nasdaq gained 2.9%. The broad market index rose 2.1%.
Tech stocks led the way, and airline stocks rose after major carriers reported positive revenue forecasts. Oil prices fell below $100 a barrel after having topped $130 in the previous week.
“I heard that the whole assembly [on Tuesday] It was short-covering and could be ruled out, we can go back down tomorrow if the Fed says the wrong thing. There is some truth in that. This market is as crisp as any I’ve seen in years,” Kramer said, referring to Federal ReserveThe expected announcement of a quarter-percentage point rate hike after the conclusion of its meeting on Wednesday.
However, he added, investors should remain calm because the market remains volatile rather than fear a deflation — and use market booms, even when short-lived, to strategically shrink their holdings.
“We are constantly reminded that this market is going down, not in a gradual way, but within a couple of days the drop is followed by a sudden rally…I think this rally is still a good opportunity to put the situation back in,” Kramer said.
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”