''Sell in May and go away' is suboptimal advice, people, but this May, it just so happens that the market's run too much versus the fundamentals,' the 'Mad Money' host said.
"'Sell in May and go away' is suboptimal advice, people, but this May, it just so happens that the market's run too much versus the fundamentals," the "After completing its best month of gains in about three decades, the stock market sold off on the first trading day of May. The major averages all slumped about 3% during the session as investors reacted in part to President Donald Trump's threat to.
"I don't love the timing here, but if there's one thing we've learned, it's that you need to take the president seriously when he threatens to take action against China," he said, adding, "that's bad news for the stock market." "Even after today's decline, we're still overbought. I really do believe it's worth waiting for the market to go lower to do any buying unless we got some incredible vaccine news over the weekend, and I don't think we're going to get that," Cramer said.
Cramer went on to present the Wall Street activity he has circled on his calendar for next week. All quarterly projections are based on Factset estimates:reports second-quarter earnings for the 2020 fiscal year before the market opens."We own Tyson for the charitable trust, and I am furious at myself for not giving it the boot at higher levels," Cramer said.Projected revenue: $766 million"This chipmaker's one of the few pure plays on the coming of 5G wireless," he said.
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