Jim Cramer had absolutely no intention to join a celebration that the Dow Jones industrial Average hit 20,000.
In fact, someone put a Dow 20,000 hat on his desk, and it was downright radioactive in his mind. The last thing he wanted to see was a video of himself wearing the hat if the market ended up rolling over.
No one knows which way he market go. The downside is way too big, and the upside is nil, he said. Investors have been burned too many times. That is why he takes a clinical way to assess the stocks that led the charge to 20K, like Visa, Home Depot and Apple.
"You have to do it clinically because at any given time, if the stocks get truly overheated, you need to be willing to cut and run. Even then it is dangerous," the "Mad Money" host said.