Cramer: Buy Any Panic on the French Election

 | Apr 21, 2017 | 10:51 AM EDT
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Judging by the buying today, you have to believe that people aren't that fearful of a French election outcome that has the hard right challenging the hard left.

I think that's all well and good, but they will be fearful on Monday, because there's always some clueless fund that panics and blows out of stocks because of the "shock" of it all.

This is an established pattern of idiocy that has gone back to 2011 when the PIIGS --Portugal, Ireland, Italy, Greece and Spain -- were all expected to go bust.

The market sold off week after week on these scares.

Now Ireland and Spain are doing very well. Italy's okay. Greece is not bad. Portugal is not a factory.

Nevertheless, there is so much linkage, so much "they are down there, sell here" that it has to be noted and you need to be ready.

Once again, homegamers, take it with a grain of salt and buy the panic.

But recognize that big events inspire panic -- and then inspire regret, UNLESS they are about systemic risk in our country.

This is not about that kind of risk.

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