(Kitco News) Trying to pick stock winners could be a losing game for investors this September, said CNBC’s Jim Cramer, who told traders they had some cash and gold.
The U.S. stock market could be a dangerous place as the third quarter ends, “Mad Money” host warned.
“I’ve told you time and time again that September is the cruelest month and that it works like this again, with corrections everywhere, which is, again, a precursor to the seasonal decline that begins in just a couple of days. “Cramer said.
Instead, Cramer advises opting for some cash and gold. “Right now, it’s best to keep cash and have some gold,” he said Monday.
Finding out which stocks will be the main winners during all this volatility can be a difficult task, especially this time, he noted.
“Of course, on a given day, we can see a concentration of relief. Today the Dow has held up very well. Some health stocks rose, mostly health insurers. Banks put on a decent show,” Cramer said. “I don’t want to be too aggressive with anything.”
Another option for traders could be to sell some shares before the market sees an even bigger correction later this week, Cramer said.
“If you’re a trader, maybe come this week. The goal is to get ahead of those who are unaware that September 17th usually begins the toughest period of the year.”
US stock sales continued on Tuesday, with the Dow Jones Industrial Average falling about 325 points (0.9%), the S&P 500 (0.7%) and the Nasdaq (0.5%).
Gold was trading just above $ 1,800 an ounce at the time of writing, and December’s Comex gold futures were $ 1,806.00, up 0.65% on the day.
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