Jim Cramer says don’t rush into the stock market Monday looking for bargains in the midst of a selloff. Cramer said it is best to wait, as the market will remain under pressure with investors worried about China’s open on Tuesday. Cramer said the past selloffs due to China woes have taken a few days to shake out, and then it’s time to look for bargains. But Cramer added investors should avoid economically sensitive stocks. Cramer was asked about Horizon Pharma (HZNP), and said it’s not a stock to buy, because it relies on acquisitions and the market has not been kind to acquisitive pharmaceutical companies as of late. He does like the biotech company Celgene (CELG). Cramer commented on the auto sector, saying he’s not a big fan of the group right now, although he said GM (GM) is kind of interesting as the stock retreats. He doesn’t like Daimler (DDAIY) and said Tesla (TSLA) is a cult stock, and it’s up to individual investors to decide whether they like it or not. Cramer is portfolio manager of Action Alerts PLUS, which owns Starbucks, and host of CNBC’s Mad Money. He answers viewers questions from social media in a daily segment with TheStreetTV. You can send questions to his Facebook (FB) page, and on Twitter (TWTR), he’s @jimcramer. Use hashtag Cramer Q.
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