Jim Cramer thinks recent analyst downgrades on stocks with big runs will test investors.
"Right now, until the end of the year, I think we have one of those moments where you will have to work hard to keep your positions on and not to sell simply because of price," the "Mad Money" host said.
In the past, huge rallies have prompted investors to change disciplines midstream. Instead of selling the rips, they let the gains ride because the market blew through so many levels, the new levels would last.
This is a new environment, Cramer said. The days of toxic gridlock in Washington that prompted investors to sell stocks every time an issue arose and then buy them back when it was resolved could end.