“People are overlooking every positive. And that’s silly,” said TheStreet’s Founder and Action Alerts Plus Portfolio Manager Jim Cramer.
From the floor of the New York Stock Exchange, Cramer broke down what’s driving the current market and which catalysts could move stocks into the new year. Primary on his mind: China, the strong dollar, oil and the Fed.
Check out Jim’s full take on China here.
“When oil goes down, I’m positive, not negative, when the Fed blinks, I’m positive, not negative. We’re setting ourselves up for a year end rally. Not yet, but close,” Cramer said.
Which Stocks Are Moving the Market?
Caterpillar
Cramer noted the great amount of speculation floating around Caterpillar CAT ahead of its earnings report. “It’s overstated how much of Caterpillar’s business is China. You want to buy Cat because you think the first quarter. I’d rather speculate on United Health UNH .”
Tilray
Cramer said Real Money’s smoking hot stock of the day isn’t a ticker you want in your portfolio ahead of its earnings report after the bell. “If you own Tilray, sell it,” Cramer said. For a cannabis play, Cramer prefers Constellation Brands STZ which recently took a stake in Canopy Growth CGC .
Nvidia
And of course, Cramer previewed his favorite dog Nvidia NVDA ahead of its earnings report after Thursday’s closing bell. What’s his play? While it’s no secret that he loves the company, Cramer said he’s playing the wait and see game.
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