Cramer: 'Don't Fear A Correction, Pray For One'
Instead of fearing corrections, Cramer said Wednesday, appreciate them. What people should fear, he continued, is that if they sell at current levels they might not be able to get back in. The markets on the verge of something big, which could send prices soaring.
More for than 10 years, the market has done nothing. We are now starting to see several large-cap companies break-out, including Caterpillar , United Technologies , Freeport-McMoRan , Stanley Black & Decker , Cooper Industries , Union Pacific and more. After waiting a decade for this move, people have been quick to take profits. Some worry these names have climbed too much in a short-term, or that the move higher is only driven by short squeezes.
Cramer understands these fears, but thinks we're at the beginning of a huge move higher. From employment to manufacturing data, economic figures prove things are getting better, he said. But after a decade of do-nothing stocks, where most individual investors were blown out, Cramer gets why many are skeptical. But don't let it stand in the way of making money when the facts are positive, he said.
"Don't fear a correction, pray for one," Cramer said. "I believe this market is done doing nothing. It's ready to soar higher and you need to be in it."
When this post was published, Cramer's charitable trust owned Caterpillar and Stanley Black & Decker.
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