During the early part of the Mad Money program Monday evening, Jim Cramer told viewers that investors were also worried over the latest COVID variants and whether current vaccines would remain effective.
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Poor July numbers erase hopes of a strong second half to the year, where lockdowns and the 'zero-Covid' policy have undermined confidence and activity.
Unless we get breadth red for some meaningful number of days, we won't get back to even a moderate oversold condition. We simply remain overbought.
These recently downgraded names are displaying both quantitative and technical deterioration.
Let's check a covered-call play in PubMatic.