Sit back and get comfortable, Jim Cramer told his Mad Money viewers Monday. This week is going to be a rocky one for the stock market. Instead of panicking, however, Cramer said it’s time to start buying the bull markets that were just put on sale.
This market hinges on a stimulus deal out of Washington. That deal will come eventually, Cramer theorized, but in the meantime, investors need to stick with the five bull markets that are working right now.
Those bull markets include the transition to 5G wireless, digitization and the cloud, the bull market in hygiene, home improvement and renovations, and the continuing bull market in autos. All of these bull markets work with our without a stimulus plan, Cramer said, and they can keep going higher even with spiking COVID-19 cases.
Don’t take your cues from the disappointing outlook at SAP (SAP) – Get Report, Cramer cautioned. The digitization trend is alive and well, he said, and the cloud seems to be only passing over SAP, but not SAP’s competition, where sales are booming. Cramer also said not to try and game Apple’s (AAPL) – Get Report earnings. “Buy Apple, don’t trade it,” continued to be his recommendation.
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At the time of publication, Cramer’s Action Alerts PLUS had a position in AAPL.