Saturday, July 20, 2024

Buy stock oil when it’s low, and stay away from everything else


CNBC’s Jim Cramer said Monday that the only stocks investors should buy on dips are oil names.

“I want to be nice to this market and tell you it’s the same old dips game plan. But in fact, the only dip that can be bought now, at least, is dip in oil. Everything else, like they say now in a damned way, transactions and nothing more, “The”mad money‘ said the host.

Cramer said there have been so many stock disappointments in the market lately that he has been wary of non-oil names. He pointed out that the shares AMD And he retreated days before the analysts’ meeting on Thursday, and he expects apple Analysts to cut the iPhone maker’s stock level if Worldwide Developers Conference Struggling to provoke the “raging bears”.

“When [stocks] Start strong, there’s a good chance they’ll give up the ghost by midday.”

Elon Musk’s public feud with Twitter Cramer said his takeover deal is another source of disappointment in the market.

However, for oil, even when the sellers come in, the buyers come right back and keep the shares steady, according to Kramer, making these stocks stand out from others in the market.

“Price is going up at the pump, and no one but the president can do anything about it — and even he can’t do all that much. … Either way, the lesson is simple: just get some oil stock for the long haul,” he said.

Disclosure: The Kramer Charitable Fund owns shares in AMD and Apple.