Sell Block: Ta-Ta to Tech
Tech cannot not be owned, Cramer said during this week’s Sell Block. At least not for anything other than a trade.
It’s a seasonal sector, and now through the last week of August is historically slow for tech, Cramer’s found out over his 25 years in the business. He said big institutional investors abandon their holdings every year around Goldman Sach’s tech conference, a couple of weeks from now.
“When they bail on tech,” Cramer said, “tech gets slaughtered.”
Homegamers who want to trade the Goldman conference can pick up a few names now and then sell on the positivity coming out of that Las Vegas meeting. Just know that Cramer thinks any gains coming out of Vegas will stay in Vegas. So don’t hold on too long.
Cramer’s bottom line: “Don’t touch tech until August. You’ve been warned.”
Jim's charitable trust owns Goldman Sachs.
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