CNBC’s Jim Kramer said Monday that the only stocks investors need to buy are the names of oil.
“I want to be kind to this market and tell you it’s the same old buy the dips game plan. But in reality, the only downside that can be bought right now is the slightest immersion in the oil. Everything else is, as they now say in a horrible way, transactional and nothing more, “said the host of” Crazy Money “.
Kramer said there have been several frustrations with market stocks lately that have made him worry about non-market names. He noted that AMD shares fell days before the meeting of analysts on Thursday and expects Apple analysts to reduce the shares of the iPhone manufacturer if its global developer conference is struggling to excite the “angry bears”.
“When [stocks] Start strong, there’s a pretty good chance they’ll give up the ghost by noon, “he said.
Elon Musk’s public feud with Twitter over his acquisition is another source of frustration in the market, Kramer said.
Still, for oil, even when sellers come in, buyers return immediately and maintain the stock, according to Kramer, which makes those stocks stand out from the rest of the market.
“Prices are rising at the pump and no one but the president can do anything about it – and even he can’t do that much. … Anyway, the lesson is simple: Just have fun with a little oil,” he said. .
Disclosure: Cramer’s Charitable Trust owns shares in AMD and Apple.
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