Business

Jim Kramer picks 4 stocks to watch the market turn its back on technology

Wall Street appears to be shifting from profitable tech stocks to parts of the market that are lagging behind, CNBC’s Jim Kramer said Monday, detailing a strategy for investors to play in rotation.

“The gap between the haves of the Nasdaq and the have-nots of the S&P 500 finally got so bad this morning that money managers, at least some of the big ones, decided they needed to lock in tech gains after incredible growth and switch to something else. Kramer said, trying to explain why the Nasdaq set a daily record on Monday before turning around and closing down 1.26%.

The Mad Money presenter said he expects the move to continue for several days, inviting investors to fight the urge to buy tech stocks by betting they will respond right away.

“I’d rather find companies that have done well in the reporting season and have been under unfair pressure in the past few weeks because they weren’t part of the Nasdaq crush. So you can go back to the fundamentals – they are still important – and buy more if they end up going lower, ”he said.

Here are the stocks that Kramer thinks fit those criteria:

Morgan Stanley

The investment bank “did everything right during this period, but its stock collapsed due to senseless rotations in financial performance” and is now trading at 12x gains, Kramer said. “If Morgan Stanley Shares Keep Falling, I’m Sure I Will Say [CNBC Investing Club] members keep buying it because it’s so damn cheap. “

Centene

Johnson and Johnson

UPS




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