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A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Nov. 2, 2018.
Cramer wants investors to be prepared for the week ahead after days of News-driven swings in the stock market.
“This market punishes you for having too much conviction,” he said on Friday. “When we get too negative, we’re blindsided by positive developments. When we get too optimistic, we get hit with days like today. I bet next week gives us more of the same.”
Cramer pointed to some recent intraday swings: on Friday, stocks opened higher after a report saying President Donald Trump had requested his cabinet members to prepare for a trade deal with China.
Shortly thereafter, Trump’s chief economic advisor, Larry Kudlow, refuted that story on CNBC, sending the market lower. Then, Trump reiterated his optimism and stocks started climbing again, at least until a positive employment report seemingly renewed the need for the Federal Reserve to combat inflation with more interest rate hikes.
“It was all very confusing,” Cramer said. “I’m just surprised we didn’t go down even more, especially since Apple’s stock got eviscerated … even though the company reported an upside surprise.”
But even though shares of Apple continued their slide on Friday, the “Mad Money” host stood by the stock, saying that Apple will be “buying back boatloads of its stock next week” and advising investors to “join in.”
Click here to see his game plan for next week.
Source : CNBC