Jim Cramer says the stock market will bottom after speculators find the exit

cramer speculators jim stock market
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Jim Cramer says the stock market will bottom after speculators find the exit

The market euphoria is coming to an end after Wall Street was overtaken by rampant speculation, CNBC's Jim Cramer declared after stocks fell hard Monday. "Once the speculators are blown out ¢"¦ and the stocks that are already down huge start rallying, then we can find a tradeable bottom," the " " host said. "We're close, but the speculators haven't been fully crushed yet." On Monday the tumbled more than 700 points, turning in its worst day since October as all 30 stocks on the index slid. The‚ ‚ and both declined more than 1%. Cramer suggested investors begin looking for buying opportunities in stocks that have already suffered a 10% to 20% pullback. He also recommended investors add a bank stock to their portfolio after the group took a hit, despite posting strong earnings reports. "I think you watch as the speculators get blown to kingdom come, while the pandemic stocks come roaring back and the big industrials try to bottom," he said. "The rails, the aerospace plays other than Boeing ... and the infrastructure stocks all make a ton of sense down here well because they're down big" from their highs. Cramer, however, did point to a silver