Last week’s market worries are no longer in play on Wall Street, Jim Cramer says

  • Date: 22-Jun-2021
  • Source: CNBC
  • Sector:Economy
  • Country:Gulf
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Last week’s market worries are no longer in play on Wall Street, Jim Cramer says

Wall Street got its groove back Monday after a rough sell-off in stocks last week brought buyers to the market, CNBC's Jim Cramer said. "Tomorrow, traders will go for the winners, not the losers, because it looks like we forgot everything that took us down on Friday, otherwise we wouldn't be up so strongly today," Cramer said. "And by forgot, I mean the artificial forces that drove us down have disappeared. They're no longer in play." Last week, the suffered its worst week of trading this year, a move driven by artificial reasons, he said on "Mad Money." Cramer pinned last week's decline largely on a number of events he referred to as "sell programs," which includes a rebalancing in the S&P and St. Louis Fed President James Bullard's about interest rates. Despite this, the fundamentals remain intact. The only thing that has changed is the selling price of stocks, Cramer said. A decline in bond yields also weighed on the stock market, though yields rebounded Monday, he added. "Rather than trying to judge the overall action, I think the right move is to buy great stocks like the reopening plays, the travel companies, the favorite oils — and —