The casino stocks are breaking down, Cramer told viewers Friday, saying that some of the most widely known names are reaching “critical” levels.
Investors should stay away from Las Vegas sands, MGM Mirage and Wynn Resorts, Cramer said during Stop Trading!. The same goes for Allegiant Travel.
Cramer also addressed statements made by legendary investor Julian Robertson during “Street Signs.” CNBC’s Erin Burnett quoted Robertson as saying, during the commercial break, that an eventual market and economy rebound could send interest rates much, much higher, maybe as high 18%. While that would create a set of problems different from those the U.S. faces now, Cramer said, investors would still have plenty of options to make money.
Gold would work in that scenario, Cramer continued, as would a portfolio of hard assets and maybe even real estate. So an exchange-traded fund that follows gold, such as SPDR Gold Shares, or a company like Agnico-Eagle Mines . In fact, AEM would double or triple, Cramer said, if interest rates ever reached those levels.
Watch the video for more of Cramer’s response to Julian Robertson.
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