CNBC's Jim Cramer said on Wednesday it's time to trim stocks and wait with that money to see the Fed's next move.
because he'd seen such high gains, especially in the latter two. To Cramer, these prices were getting "piggish," and he felt it was time to "ring the register."
"I think we're currently in no man's land though — not high enough to justify making more sales, but certainly not low enough to justify buying anything, because I want to wait for a better opportunity," Cramer said, adding that he needs a solid catalyst to buy new stock. Cramer also said he thinks the decline in the Volatility Index — also known as the market's fear gauge — shows that many investors are getting complacent, and it doesn't help, he continued, that the Fed keeps giving out mixed messages. According to Cramer, instead of swinging at every pitch, it's time for investors to keep their bats on their shoulders.
"I just told you what we're doing for the trust: Waiting," Cramer said. "It's often the hardest thing to do, but many times the hardest thing to do is also the best way to try to make a lot of money."When it comes to the stock market 'I recommend sitting on your hands right now', says Jim Cramer
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