Short sellers may have “shot first and then asked questions later,” Cramer said during Tuesday’s Stop Trading!, in anticipation of a trade war between the US and China. Some of the companies that could have been hit the hardest are now “the strongest stocks in the market.”
Las Vegas Sands , Wynn Resorts , Caterpillar , Bucyrus International and Joy Global are all names that Cramer would have marked for shorting if a trade war had escalated, but they were up during Tuesday’s trading session.
Cramer reset his price target for Wynn to $80-$90 from $70, and $22-$25 for Las Vegas Sands. The companies presently trade at $72 and $19, respectively.
“So we may think that this China’s got a trade war,” Cramer said, “but I think this is more of a make-love-not-war situation, and these stocks win.”
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