After buyers fled from Big Tech on Thursday, CNBC’s Jim Cramer advised investors to take advantage of the rotation but beware that it may not last long.
After a major sell-off in Big Tech on Thursday, CNBC's Jim Cramer advised investors to take advantage of the rotation but beware that it may not last long.
"I say enjoy the rotation. It's historically broadened things out, and tomorrow you'll get another chance to make money with today's winners," he said."But if interest rates stop going down, and stop going down hard, then please do not overstay your welcome.""I say enjoy the rotation. It's historically broadened things out, and tomorrow you'll get another chance to make money with today's winners," he said.
He also pointed out that nothing fundamental has really changed at many of Thursday's winning companies. He said Big Tech buyers will be back soon enough, but he cautioned investors against buying the megacaps right now, as they need time to rebound. "It takes time to recover from this kind of beatdown, and in the meantime, their stocks are likely to drift lower," he said."So, if you want to buy, I say wait a few more days. Let's see how they react if the banks report good numbers tomorrow."Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
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