Investors seemed to suffer a trifecta of bad news on Tuesday: The dollar rallied, while gold and oil sunk lower. The end result was a triple-digit decline in the Dow, in addition to losses in the Nasdaq and S&P 500.
“Seemed” is the operative word because Cramer had a different take on today’s action.
“It doesn’t matter,” the Mad Money host said. “In fact, it’s good.”
How could the market’s move lower be a positive? Because it gives investors the chance to buy great US companies at a discount, especially the businesses that Cramer’s highlighting this week as part of his Invest in America series.
Macy’s , The Walt Disney Co. and others to be named later this week are “the best long-term investments we know,” Cramer told viewers.
These are iconic American brands led by transformational CEOs. Macy’s Terry Lundgren and Disney’s Bob Iger are executives you can bank on, Cramer said. So much so that he actually hoped for a couple of down days this week – to give viewers a good entry point into these stocks.
So let the intelligentsia, as Cramer likes to cal Wall Street’s punditry, focus on the dollar, gold and oil. You focus on the companies that will help the US emerge from the recession even stronger than before.
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