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Last week was a terrible week for stocks, amid so much uncertainty. Ebola, Isis, the ongoing fear the Russian sanctions were going to lead to a European recession, falling oil and weakness in semiconductors led to vacillations in the averages. The Vix or Fear Index was signaling doom, as well. Jim Cramer of CNBC’s Mad Money made a checklist of things to watch out for before investing in stocks.While he sanctioned quick trades, buying for the long-term was something he was warning against.
On Friday, he pointed out with Ebola somewhat contained for the time being in the West, a few strong earnings reports, notably from Morgan Stanley and American Express, a frustration of Isis in Syria, hints of German Chancellor Angela Merkel perhaps backing off from austerity, a stabilization of oil and semiconductors and a selling off sectors that hadn’t been sold off yet inspired Cramer to sound more bullish than he has in weeks. It’s not time to jump all into stocks, but at least he said it is safe once again to go bargain hunting amid the rubble.
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