Cramer: Skittishness late in day
Jim Cramer | firstname.lastname@example.org
So why not take something off the table? In fact, the reversals in a lot of growth stocks were pretty bitter. Starbucks was up a buck at one point. Under Armour got crushed. Facebook totally crumpled. Apple is just horrendous.
The toughest thing about this market is how hard it is to resist. You had to, in retrospect, sell everything at the open with the hope that you could get back in at the end of the day, and that is a lot of needle-threading.
The only groups that didn't just fold were aerospace and transports, both of which have been strong for ages now. Boeing broke out on a research note, for heaven's sake. That's the innate bullishness of this tape.
Tomorrow we will hear endless chatter about Fed tapering. So who wouldn't want to take something off ahead of that?
Disclosures: Cramer's charitable trust is long AAPL and FB.