Jim Cramer is no stranger to August sell-offs.
"Welcome, August. Where you been?" the "Mad Money" host exclaimed on Thursday. "For as long as I've been in this business, August has been a month where we have unexplained or inexplicable, sudden sell-offs, including nasty ones like today."
As the Dow Jones Industrial average fell more than 250 points intraday, experts blamed the decline on everything from President Donald Trump's tiff with the CEOs on his now-disbanded strategic councils to the earnings report from Dow component Cisco.
But Cramer's reason for Thursday's sell-off was simpler than what he saw on his Twitter feed.
"It's August. It's slow. It's thin. It's time for vacation. Stocks have had a big move. Why not sell some?" the "Mad Money" host said. "I bet this sell-off isn't done. It could get uglier. We're due. I also believe we'll get a bunch of sell-offs like this one over the next six weeks because that's what happens every year at this time. I've been telling you this. So, if you haven't done so already, please sell your least favorite stocks tomorrow to raise some cash so that you'll be ready to pick up your most favorites as they come down and become bargains."