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Jim Cramer Advises Against Using Binance — Says Crypto Exchange Is ‘Way Too Sketchy’ – Regulation Bitcoin News – Bitcoin News
- Jim Cramer Advises Against Using Binance — Says Crypto Exchange Is ‘Way Too Sketchy’ – Regulation Bitcoin News Bitcoin News
- Binance, NBA star Jimmy Butler, and crypto influencers hit with $1 billion suit for promoting unregistered securities Fortune
- Binance.US Volume Rises to New All-Time High, Plans Transition to New Banking Partners BeInCrypto
- Jim Cramer vs. CZ: ‘Mad Money’ Host Says Binance ‘Way Too Sketchy’ BSC NEWS
- CZ, Binance, influencers face $1B lawsuit for unregistered securities promo Cointelegraph
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Charts suggest investors should bet on ‘work horses’ in the Dow Jones Industrial Average, Jim Cramer says
CNBC’s Jim Cramer on Friday told investors to steer clear of stocks in the Nasdaq Composite and instead place their bets on names listed in the Dow Jones Industrial Average.
“Even though tech has started the new year strong, and it was crazy good today, the charts, as interpreted by Larry Williams, say you need to be a little bit wary of the show horses in the Nasdaq and bet on the work horses in the Dow,” he said.
Stocks rose on Friday to close out a positive week for all three major indexes. The Nasdaq has climbed 11% this year, as investors have bet on less aggressive interest rate hikes from the Federal Reserve.
To explain Williams’ analysis, Cramer examined the daily chart of the Nasdaq-100 dating back to November 2021.
While some technicians believe it’s a bullish sign that the index has broken above its 200-day moving average over the past two days, Williams points out that the Nasdaq-100 has come back down after breaching the level in the past, according to Cramer.
He then reviewed the daily chart of the Dow going back to February 2022.
Unlike the Nasdaq-100, which Williams believes is a “show horse” index due to how much interest it gets, the Dow is more representative of Main Street, Cramer said.
He added that the blue-chip index broke out above its 200-day moving average back in November and has stayed above it since.
“Williams finds this chart a lot more compelling,” he said.
For more analysis, watch Cramer’s full explanation below.
Jim Cramer reminds investors to maintain a diversified portfolio
CNBC’s Jim Cramer on Wednesday told investors that diversification remains key to keeping a successful portfolio.
“I can’t say a diversified portfolio is bulletproof. But I can say that it makes it easier to stay in the game when one particularly popular group gets put through the meat-grinder,” he said.
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The Nasdaq Composite and S&P 500 closed lower on Wednesday as investors digested the latest slew of corporate earnings. The Dow Jones Industrial Average rose slightly to end the trading session.
Tech stocks fell on concerns about Microsoft’s softer-than-expected guidance, continuing the Nasdaq’s losses for a second day.
The recent declines come after a solid start to the year for the tech-heavy index, as hopes that the Federal Reserve could ease the pace of interest rate hikes led investors back into growth stocks.
“Frankly, if you have too much tech exposure, when you get a day like today, you might just say that’s it, I’ve had enough, I’m getting out of this racket. Well, that’s why you’ve got to stay diversified,” Cramer said.
He added that he still doesn’t recommend that investors add to their tech positions, even after the recent declines. “I want to stay in the game. I don’t want to be blown out when the tech grim reaper strikes.”
Cramer says these 6 ‘positives’ could lift stocks in earnings season
CNBC’s Jim Cramer on Monday said that several elements could help propel stocks higher, even during what could be an ugly earnings season.
Tuesday kicks off a new earnings season featuring some of the biggest companies in technology, retail and consumer goods. Companies like Microsoft, IBM and ServiceNow are slated to report their quarterly financial results this week.
Here are the six factors that could help stocks as companies report earnings, according to Cramer:
- More firms are implementing layoffs. Companies including Microsoft, Salesforce and Wayfair recently announced head count cuts, and their stocks popped.
- The U.S. dollar and interest rates peaked last fall. Cyclical, more economically sensitive stocks have since bounced, as many companies conduct a large portion of their business overseas.
- The Federal Reserve could almost be done raising interest rates. That’s according to a Wall Street Journal report, and could mean that bad loan worries – and possible ensuing damage to banks – could be over.
- China’s economy is reopening. The return of the world’s second-largest economy is great news for companies, particularly those in entertainment, travel and consumer goods.
- The government is poised to spend big on infrastructure. Cash from the bipartisan infrastructure bill and the Inflation Reduction Act provide a “safety net” for companies that build roads, bridges or tunnels.
- Analysts are upgrading chip stocks. Barclays on Monday upgraded Advanced Micro Devices and Qualcomm to overweight. “Remember, the [semiconductor chips] inventory glut included everything from cellphones to desktops to high-performance computers. This is a very big deal,” Cramer said.
Cramer cautioned that while earnings season may still not be smooth sailing, any dips in stock price aren’t necessarily unwelcome.
“At the moment of the first print, when we see the numbers, I still expect to see some vicious declines. The difference from 2022? Those declines, they might be buyable,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Advanced Micro Devices, Qualcomm, Salesforce and Microsoft.
Cramer names 6 e-commerce plays that are buys, says to wait on Amazon
CNBC’s Jim Cramer on Friday offered investors a list of e-commerce plays he believes are worth buying, despite the group’s rough performance in 2022.
“There are still some e-commerce plays that I’m willing to get behind here, the ones that have truly prioritized profitability,” he said.
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Here is his list:
- Etsy
- Shopify
- MercadoLibre
- Chewy
- Prologis
E-commerce stocks skyrocketed during the height of the Covid pandemic, as at-home consumers made purchases online rather than in-store. But when the economy reopened, consumers prioritized spending on travel and experiences over goods.
That shift, along with the Federal Reserve’s interest rate hikes, sent e-commerce stocks tumbling from their highs last year.
Cramer cautioned that while he believes the group’s struggles are temporary, it’s still too early to buy many of the names in the e-commerce space — including Amazon.
He said that one of his biggest concerns with the company is that it needs to cut more costs. Amazon said earlier this month that it plans to lay off over 18,000 employees.
While that might seem like a sizable cut, “this is a company with well over a million employees — to them, this is a drop in the bucket,” Cramer said.
But Amazon’s stock will eventually bottom, he said. “I think the business can eventually make a big comeback and there will come a point where the stock’s a screaming buy.”
Disclaimer: Cramer’s Charitable Trust owns shares of Amazon.
Jim Cramer says these 5 Nasdaq losers could rebound in 2023
CNBC’s Jim Cramer on Friday named four stocks that he believes could mount a comeback this year.
To come up with his picks, he parsed through last year’s worst-performing stocks listed in the Nasdaq 100.
“Out of the Nasdaq’s biggest losers, I think Qualcomm, Lam Research, Micron, and Airbnb will work this year, although not necessarily the first half,” he said, adding, “and don’t forget Illumina.”
Here are his thoughts on each stock:
Qualcomm
- Cramer said that while Wall Street expects the semiconductor company to start losing iPhone orders in 2024, it’s possible the company could hold to at least some of those orders due. The company’s push into the auto market should also help the stock, he added.
Lam Research
- He acknowledged that the near future could be ugly for chipmakers. However, “you can’t afford to wait around too long after this next bad quarter, because Lam’s stock will bottom months before the business does,” he said.
Micron
- He advised investors to wait several months to buy shares of Micron, but make sure to do so before the chip glut is over. “Once there’s any sign of a bottom, this thing will bounce back like crazy — always has,” he said.
Airbnb
- Cramer said that the company should continue to make money this year thanks to the current travel boom. Investors interested in the stock should buy it gradually on the way down, he added.
Illumina
- He said that while the company is “superb,” he’d rather own shares of Danaher than Illumina.
Disclaimer: Cramer’s Charitable Trust owns shares of Qualcomm and Danaher.
Jim Cramer says he likes these 5 Nasdaq stocks for 2023
CNBC’s Jim Cramer on Thursday gave investors a list of stocks that he believes could be worthwhile additions to investors’ portfolios.
All of his picks are listed in the Nasdaq Composite. While the index is heavy with tech stocks that were hammered last year, there are still names that could perform well even in a recessionary environment, according to Cramer.
“In an index that’s been folded, spindled and mutilated, I am still feeling good about a few of these stocks,” he said.
Here are his picks:
T-Mobile
- Cramer said that he expects the company to continue taking market share from competitors.
Regeneron Pharmaceuticals
- “Regeneron’s got a broad pipeline with a ridiculously cheap stock. I think it’s a really, really excellent situation, especially if you’re expecting a severe recession,” he said.
PepsiCo
- The beverage giant rivals Procter & Gamble when it comes to the best consumer packaged goods company in the U.S., he said, though he acknowledged that the stock’s valuation is a bit higher than he would like.
American Electric Power
- Cramer said that he likes the stock because the company is well-run, and utility stocks tend to perform well during economic slowdowns.
Dollar Tree
- While he does like the stock compared to other retailers listed on the Nasdaq, Cramer said that he still prefers TJX Companies.
Disclaimer: Cramer’s Charitable Trust owns shares of TJX Companies.
Jim Cramer Urges SEC to Do a Big Crypto Sweep — Says ‘I Wouldn’t Touch Crypto in a Million Years’ – Featured Bitcoin News
The host of Mad Money, Jim Cramer, says he would not touch crypto in a million years. He called investors who own various altcoins idiots and urged the U.S. Securities and Exchange Commission (SEC) to do “a big sweep” on the crypto industry.
Jim Cramer’s Crypto Warnings
The host of CNBC’s Mad Money show, Jim Cramer, has issued more warnings about cryptocurrency. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He said on CNBC Friday:
I would not touch crypto in a million years because I wouldn’t trust the deposit bank.
He was then asked whether he is making a distinction between centralized and decentralized platforms. “They fought regulation. They didn’t want regulation and you don’t have regulation,” Cramer replied, indicating that he does not trust any platforms that do not want regulation.
The Mad Money host continued:
I’m just saying you are using a lot of blind faith, and I like to have my money at JPMorgan, and I check on Monday to see whether my balance is there. It feels good.
“Try getting your money out,” he advised crypto investors, adding that when he had money at a crypto firm: “It was a fight to get the money out — a fight!”
Cramer opined:
I think that everybody who owns these various coins — you know, solana, litecoin — I do think you are an idiot, okay. I did not go to college to get stupid. These people who own these things should not own them. They shouldn’t own them.
Jim Cramer Calls on SEC to Do a Big Crypto Sweep
Cramer also commented on the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that existing securities laws are adequate for the regulation of the crypto industry. He wants the SEC to “come on and enforce” crypto firms.
The Mad Money host added:
I think they need to do a big sweep. They have to stop people creating money.
“It’s the creation of money by cretins. I don’t think cretins should create money and then suck people in. These are worse than even the worst Nasdaq stocks,” Cramer concluded.
The Mad Money host used to invest in bitcoin, ether, and non-fungible tokens (NFTs) but he sold all his crypto holdings last year. Cramer has been advising investors to avoid investing in speculative assets, including crypto, while the Federal Reserve continues to tighten the economy. Earlier this month, he advised investors to get out of crypto, emphasizing that it is never too late to exit “an awful position.”
What do you think about the warnings by Jim Cramer about the danger of crypto investing? Let us know in the comments section below.
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Jim Cramer says the ‘worst of 3 worlds’ helped lead stocks lower on Thursday
CNBC’s Jim Cramer outlined three reasons that markets lost a short-lived rally on Thursday.
If the economy were running colder, if the stock market was lower, and if interest rates were higher before sliding, things would be different, Cramer said. “Today we didn’t see that, though. We had the worst of three worlds.”
Here are the three factors:
- Hot economic data: Initial weekly jobless claims for the week ending Dec. 17 rose by 2,000 to 216,000, according to the Labor Department. That’s less than the Dow Jones consensus estimate of 220,000.
- Weak corporate earnings: CarMax shares fell about 3.7% after the company reported weaker-than-expected profit and revenue in its latest quarter. Micron Technology shares slipped 3.4% after the company reported a wider-than-expected quarterly loss and miss on revenue after the close on Wednesday.
- Bearish comments about the market: David Tepper, founder of Appaloosa Management, told CNBC on Thursday that he’s leaning short on equities because it’s unusual for global central banks, including the Federal Reserve, the European Central Bank and Bank of England, to tighten at the same time.
Stocks fell on Thursday as Wall Street continues to worry that the Fed’s interest rate hikes could tip the economy into a recession.
Investors also fear that time is running out for a Santa Claus rally, a phenomenon in which stocks tend to rise near the end of a year into the next year. Cramer reminded investors that charts suggest a market run could be in the works for after Thursday’s trading session.
“While we could still get that seasonal bounce, obviously the market’s gotten tougher to game,” he said.
