Options Trading News

September 4, 2013  Wed 8:11 AM CT

Stupefyingly difficult market. General Electric, DuPont, and Eaton go down, but United Technologies, Boeing, and Honeywell, go higher. Caterpillar and 3M go down, Cummins goes up. Vale rallies huge--thanks for once to Brazil--and Alcoa barely budges.

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!

TheStreet.com logoTo 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.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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