Money Jim Cramer with all-round hit: "There are too many bulls on the market"

11:35  24 november  2020
11:35  24 november  2020 Source:   finanzen.net

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In the last few weeks, more and more groups have switched from bear market territory to bull market territory and they've still got plenty of room to play

Jim Cramer on Thursday's decline: 'We have too many bulls '. "Mad Money Manifesto" by Jim Cramer : For years I have been trying to help people like you, who own stocks and feel like they're on the outside looking in, become better investors. Have a question for Cramer ? Hit him up!

After several recognized stock market analysts announced last week that the bull market would continue, star investor Jim Cramer quickly brought them on his show "Mad Money" back to the bottom of the facts. In his opinion there are currently too many bulls on the market.

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• Dow Jones with new record high

• Analysts predict the continuation of the bull market

• Cramer emphasizes the seriousness of the current situation

If you look at the current development in the stock markets, could one thinks that the corona pandemic has long been through. Because while there was a historic slump on the international stock markets in the course of the first violent corona wave in March, some of the indices affected at the time have even reached new highs. The US benchmark index Dow Jones most recently achieved this last week. The euphoria was fueled in particular by reports from pharmaceutical companies such as Moderna , BioNTech and Pfizer , all of which reported positive data on their vaccine candidates. It is hardly surprising that the hope of a quick return to normality made investors smile all over the world.

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At least, that's what Jim Cramer is saying. In an interview with TheStreet, Cramer said that market The company's latest hit comes from weak demand for the new iPhones. The company has also told Real Money will have wall to wall coverage on the drug company all day Monday. The trade war is

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The bullish sentiment was confirmed by several experts last week. For example, Morgan Stanley strategist Mike Wilson assumes that the bull market has even more room to move upwards, as he reported to CNBC last Thursday. Goldman Sachs analyst David Kostin also shared the positive assessment in a customer report. He thinks it is possible that the market-wide S&P 500 can grow by 20 percent by the end of 2021. The strategists base their positive outlook for the stock market on the fact that there are currently many bears among investors who would sooner or later turn into bulls and thus likely to catapult the indices even higher.

Cramer with all-round approach to the current corona situation

But the experts are wrong here, Jim Cramer is sure. He gave the reason for this in his program "Mad Money". In his opinion, there aren't too many bears in the market at the moment, he says, "there are too many bulls". It is true that there is positive news to report that support a positive sentiment, but the current overall situation should not be lost sight of. New corona infections in the USA would now grow exponentially. Since the beginning of November there have been more than 100,000 new infections every day, and the trend is rising. It is therefore clear that "a large part of the population will be infected with the virus". While at an early stage it was assumed that larger get-togethers, such as in church or nursing homes, were responsible for many infections, it is now known that it mainly happens "when you eat indoors with friends, or when you pick up your child from school and bring it home ". So one can no longer speak of "just hotspots".

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What are we too bullish about, asks Jim Cramer ? Depending on the sector, investors have good reason to be optimistic. Cramer acknowledged that the IPO market has been red-hot and there are a few groups within tech that carry rich valuations, like software and cloud stocks.

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In addition, many Americans are under the impression that the corona virus is basically just a cold and that only certain groups of people are really at risk from the disease. According to Cramer, it is true that many important advances have already been made in the fight against Corona, but it is also a fact that a trip to the hospital or a doctor is necessary in the event of severe symptoms. However, hospitals and doctors are reaching the limits of their capacities, which in turn means that "COVID is much more deadly than it should be".

Given this situation, in Cramer's view, it is entirely possible that a new lockdown will be imposed. Perhaps not as many companies would be forced to close as before, but the stock market expert assumes that many people would voluntarily refrain from leaving their homes unnecessarily in order to avoid infection. Furthermore, consumers could only keep the economy going if they still have a job. A new lockdown, however, would again mean great pressure for companies and lead to quite a few bankruptcies.

Another problem with another economy shutdown? This time around, people couldn't count on help from the US government. In particular, the election dispute between US President Donald Trump and future-elected President Joe Biden would have led to a kind of power vacuum. And even in the US Congress there was still no agreement between the Democrats and Republicans regarding a new economic stimulus package.

Too many bulls on the market

Cramer's conclusion: the current situation is not a good basis for a robust economy or a rising stock market. There are just too many cops "and a large part of them will panic". Finanzen.net editorial team

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