Cramer: No rhyme and no reason
Jim Cramer | [email protected]
The bonds go nuts and then calm down. In the meantime, the banks can't make up their minds. The real-estate investment trusts get hit, and the retailers hold up.
Meanwhile, Amazon, Google, Starbucks, Regeneron, LinkedIn, and Celgene, classic growth stocks, just soar. Along with gold!
To me, this is a recipe for taking money off the table. This market has no idea what it wants to do and who it is taking its cue from. It's just flopping and chopping all over the place.
Until things look a little clearer, I think it's important to raise a little cash. This is a tough week to be big long, too many landmines, including a thin Jewish New Year's Day ahead of a worrisome labor report on Friday--do we want strong or weak? Who knows?
I'm calling it dicey and, for the moment, too dicey.
Disclosures: Cramer's charitable trust is long HON and VALE.