By CNBC Jim Cramer Tuesday offered a lesson for investors as the stock market recently edged higher after a rough patch with Covid omicron worries.
NS “Mad Money” the presenter’s comment came after Wall Street move on to another strong trading session to start the trading week, led by high technology Nasdaq3% jump.
It’s a good example of why panicking isn’t a strategy unless you’re intentionally trying to lose money, says Cramer. referring to the advice he gave after closing on November 29.
On Tuesday, S&P 500 up 2.07% and is now about 1% away from the all-time high. NS Dow Jones Industrial Average up 1.4%, as all three major US equity averages recorded their third positive day in four days.
“I want you to use it as a reminder that, most of the time, it’s better to wait for cooler heads to prevail than to worry in a situation where others are bewildered,” says Cramer. lost his head without complete information”. .
Market Big sale on 11/26, with the Dow, S&P 500 and Nasdaq all losing more than 2% in the holiday shortening session as investors globally reacted to the discovery of the Covid omicron variant. Stocks continued to fluctuate the following week, and the major US average ended the five-day trading period lower.
However, as the days went by and more and more information became available about omicron variations, Cramer said Wall Street’s worst fears of widespread shutdowns damaging the economy grew increasingly. becomes unlikely. That has helped improve market sentiment, he said.
“Look, it would be great if you bought something near the lows – that’s what I encourage you to do, actually, even if you have to hold your breath because we’re simply oversold. I’m leaning on the technical indicators,” Cramer said. “But the cardinal sin here is to sell stocks out of fear, rather than sitting tight for reason.”
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https://www.cnbc.com/2021/12/07/cramer-stocks-recent-rally-shows-need-for-investor-patience-not-fear-.html The recent rally in stocks shows that investors need patience, not fear