Even if lawmakers can cut a debt ceiling deal, Jim Cramer says it's too early to get bullish

1 year ago 106

We are connected  the aforesaid  way  arsenic  the 'disasterous 2011 indebtedness  ceiling fight', says Jim Cramer

CNBC's Jim Cramer told investors connected Thursday it was excessively aboriginal to get bullish connected this market, adjacent if lawmakers tin chopped a indebtedness ceiling deal.

"I support recommending you support a precocious currency position, adjacent if the Democrats and Republicans chopped a deal, due to the fact that past clip it was the gut punch of the S&P downgrade a fewer days aboriginal that truly crushed us," helium said, referring to Standard & Poor's crisp driblet aft 2011's indebtedness ceiling deal.

Cramer stressed that adjacent though a woody was yet reached successful 2011, the marketplace inactive suffered.

"That's wherefore I support recommending you support a precocious currency position, adjacent if the Democrats and Republicans chopped a deal, due to the fact that past clip it was the gut punch of the S&P downgrade a fewer days aboriginal that truly crushed us."

And truthful far, according to Cramer, this year's indebtedness ceiling debacle is moving parallel to that of 2011, making the S&P's past downgrade particularly prescient.

"So, knowing what we cognize astir 2011, it's premature to get bullish connected this market," Cramer said. "Best to support the currency connected the sidelines and waiting."

Jim Cramer revists the S&P 500 successful  2011 arsenic  the deadline for a indebtedness  ceiling determination  draws closer

Jim Cramer's Guide to Investing

Click present to download Jim Cramer's Guide to Investing at nary outgo to assistance you physique semipermanent wealthiness and put smarter.

Read Entire Article