CNBC’s Jim Cramer on Wednesday celebrated results from a recent CNBC survey, in which a majority of investors predicted an imminent pullback.
CNBC's Jim Cramer on Wednesday celebrated results from CNBC's most recent Delivering Alpha Stock Survey, in which a majority of investors predicted an imminent pullback.predicted the market had run too much and a pullback is on the horizon. He told investors to welcome a decline and raise some cash to buy quality stocks at lower prices.
"I think people are right to expect a pullback here," Cramer said."But that's not a reason to head for the hills. Instead, you want to raise a little cash, watch the market broaden — as it is doing — and then buy your favorite tech stocks when they come down." To Cramer, these pullbacks may be hard to predict, but they must happen. He used a gardening analogy, saying pullbacks are like rain — inevitable, but necessary for plants, or portfolios, to grow.While it's wise to raise some cash to prepare for a pullback, Cramer also suggested riding out some of the turbulence. When investors are always trying to avoid the next pullback, they may end up missing the next rally, he said..
"If you don't own Nvidia already, you know what? You're about to get a sale," he said."And if you do own it already, just stick with it, because it's way too hard to swap out and then swap back in at the right level.
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