Cramer says shares will go down irrespective of who wins the election and “it’s important to purchase”
CNBC’s Jim Cramer said Tuesday that investors must take advantage of any stock pullback after election day, regardless of whether President Donald Trump or Democrat Joe Biden emerges victorious.
“I think whoever wins, you have a quick dip and have to buy,” Cramer said on Squawk Box. “I know that sounds simple, but the market is simple. We always try to shape the market as a kind of Einsteinian philosophy.”
Instead, Cramer said investors can focus on other metrics to evaluate stocks, such as quarterly earnings. “If we do that, people will want to buy,” said the Mad Money host.
He added that investors looking to stay ahead of a post-election rally could explain why US stock futures rose on election day. His comments came when the Dow Jones Industrial Average futures were up more than 300 points while the S&P 500 and Nasdaq futures were also in the green.
Moves in futures came after major stock benchmarks rose Monday, which Cramer attributed to investors switching from high-flying tech names to value stocks. The Dow gained 423 points on Monday. Even a strong two-day rally of more than 700 points would only marginally detract from the 1,800-point drop in last week’s worst week since March.
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