Jim Cramer explained his position on FANG stocks Monday, while answering viewer questions from social media. Cramer, the portfolio manager of Action Alerts PLUS, said the FANG stocks are anointed stocks that people will buy on the way down. But he added, that doesn’t mean the stocks are going to go up. ‘They have great growth, and there’s not that many companies with great growth. That’s not a reason to buy them. It’s a reason why people are buying them,’ said Cramer, who is also host of CNBC’s ‘Mad Money.’ Cramer said it’s okay to own one of the FANG stocks, but not all of them. The Action Alerts PLUS portfolio has a big position in Facebook (FB) and also has a small position in Alphabet (GOOG). Cramer was asked if he likes Seritage Growth Properties (SRG), a Warren Buffett holding. Cramer responded that there are better real estate investment trusts, and he’s not excited about. On the retail front, Cramer was asked about Home Depot (HD) and he suggested buying Newell Rubbermaid (NWL), which has a lot of products sold at Home Depot stores. He also said Action Alerts PLUS has been buying shares of Stanley Works ( SWK). Send your questions to Jim Cramer on Facebook and on Twitter to @JimCramer, using #CramerQ.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.