Infrastructure was the first topic of discussion on Stop Trading! today after Wednesday’s bridge collapse in Minneapolis.
“The reason I’ve stayed front and center with this group,” Cramer said, “is because, and unfortunately it takes a tragedy for us to realize, but we have to spend trillions on this stuff, and these are the guys who do it.”
With very few companies left and great orders on the books of those that remain, there’s a reason infrastructure is one of Cramer’s seven wild bull markets.
Cramer also harkened back 20 years to his time as a hedge fund manager when, like the past week and late February, stocks prices couldn’t be trusted.
“This is exactly what it was like in October of 1987 and November of 1987,” he said.
Between the shaky prices and the online trading sites that have been down, “that’s very debilitating for people who are Home Gamers who are trying to figure this out,” Cramer said.
What Home Gamers might not know about is the Securities and Exchange Commission’s decision to suspend the “uptick rule.” Before the rule existed, bears could raid stocks by selling them in volume, sending the price down. But after the crash of 1929, investors weren’t allowed to short unless there was a buyer willing to pay up, an uptick.
Now that the SEC has suspended the rule, Cramer said homebuilders and mortgage plays are being raided left and right.
“Which is good for people at home to know,” said Street Signs’ Erin Burnett. “You don’t just jump in and bet against them because you’re not going to win.”
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