Jim Cramer is bored by the lack of “intriguing” and “exciting” stock deals amid the rolling market correction.
“Find me something! Is there anything to hang my hat on?” lamented the CNBC anchor during a segment on Tuesday. “Yesterday, the DOW looked good, so people said, ‘I’m going to buy the DOW,’ and then that gave it up. Yesterday, NASDAQ looked bad and now it’s doing nothing. I don’t have anything exciting. Nothing intrigues me.”
Morgan Stanley analysts have said American stock indexes are in a “rolling correction” as the market cycle nears its midpoint, despite reaching all-time highs last year. The firm said financial markets have taken on a defense posture, and there is a rotation away from small cap companies and early cycle winners to higher quality stocks.
“It’s a rolling correction,” continued Cramer. “I don’t think there’s anything good about it, I don’t think there’s anything bad about it… I find things are so uncertain that I sit here, and I think…I want to rebel against this market.”
The market lag is a far cry from the fire sale of stocks that opened up for investors last year at the height of pandemic lockdowns, which promptly rebounded and hit high-after-high. J.P. Morgan has echoed more bullish sentiments on current market conditions, telling investors to “stay pro-risk” as the economy reopens.
“I feel like we have to give this market some time,” added the CNBC anchor.
