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5 market worries keeping Cramer up at night

Thursday, 9 Jan 2014 | 6:01 PM ET
Why Washington worries Cramer
Thursday, 9 Jan 2014 | 6:00 PM ET
Mad Money host Jim Cramer shares some of his major concerns for the market in 2014 including Washington, China and oil.

(Click for video linked to a searchable transcript of this Mad Money segment)

People keep asking Jim Cramer if anything makes him nervous about this market.

Quite frankly his answer is yes. There are at least 5 trouble spots in the market right now that he thinks are cause for concern.

Now, with stocks struggling in these first trading days of the new year, it should be noted that Cramer is not saying these catalysts are imminent and about to take down the market.

He's simply saying that there are dark clouds overhead. Here's what worries Cramer:

Adam Jeffery | CNBC

1. Washington: Cramer isn't sure that the ugly politics and resulting market uncertainty that threatened stocks last year won't resurface again this year. "I know it's been quiet on the shores of the Potomac but I can't help but think there's a nasty fight over the debt ceiling lurking a month from now," Cramer said. Democrats and Republicans haven't been getting along for years, why would they suddenly get along now?

2. China: Global growth plays an important factor in the nation's economic recovery, and Cramer says global growth can't happen without strength in China. "Many US-based multinationals have been rallying off of a return of global growth. We can't have China fall off the grid," Cramer said. And lately the economic data points haven't looked promising. "The one I monitor most closely is the Baltic Freight Index, which is a measure of the rates to ship hard goods. It seems to tick down every day. I don't like that. Not at all."

3. Oil: With oil touching 6 week lows this week, Cramer worries the recent and sharp declines may reflect weakness in the global economy. Though Cramer concedes that lower oil prices are good for drivers, if global growth were intact, investors should be bidding oil higher as a bet on increased demand. That doesn't seem to be happening.

4. Disturbing metrics: "Family Dollar, L Brands, the old Limited, and Bed Bath & Beyond all cut their outlooks," Cramer noted. Although he concedes that Internet shopping may have dinged more conventional brick and mortar retailers, he worries that the trend is also a sign of "frugality and chariness among shoppers. That's obviously worrisome," he said.

5. REITs & MLPs are not advancing: "Why can't the real estate investment trusts and master limited partnerships sustain advances? Doesn't that mean that higher interest rates beckon? Isn't that always what they signal?"

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Again, Cramer wants to make it clear that he's not calling for a big correction. "I am saying that, as we embark on earnings season, these issues could be a chink in the bull's armor. And yes, there are some things that are making me nervous," he said.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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