Jim Cramer's game plan for the trading week of March 8



โ€œMad Moneyโ€ host Jim Cramer revealed what corporate earnings he will be watching for, advising investors to build up a cash position to be ready to buy stocks the next time the market sells off. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6

CNBCโ€™s Jim Cramer said the jobs report from the Labor Department Friday satisfied markets, at least for the interim.

The U.S. economy added 379,000 jobs last month and the unemployment rate inched down, with stocks managing to bounce from their lows of the day and snap a tough three-day trading stretch to end the week on a high note.

Economists had forecast the job market to grow by 210,000 in February.

โ€œAn employment number thatโ€™s strong, but not too strong, was just what this crazy market needed today, although it took half the day for Wall Street to figure that out,โ€ Cramer said after the close on โ€œMad Money.โ€

The major stock indexes all swung nearly 2% higher at the close after trading in the red during the morning. The Dow Jones Industrial Average rallied 572 points, or 1.85%, to close at 31,496.30, finishing up 1.82% after a volatile week. The S&P 500 advanced 1.95% Friday to 3,841.94, also finishing the week in positive territory.

After closing down in the red Thursday, the Nasdaq Composite bounced 1.55% to 12,920.15 on Friday. The tech-heavy index ended the week down 2.06% as growth stocks sold off.

As the U.S. continues its recovery from last yearโ€™s coronavirus-induced business lockdowns and restrictions, the February labor report likely did not do enough to push the Federal Reserve to raise interest rates to tamp down inflation as the economy grows, Cramer said.

โ€œIt was a hidden-Goldilocks report: A lot more people are getting hired, thanks to the vaccine rollout and the reopening, but not so many that the Fed will feel compelled to raise interest rates, and some are really being left behind,โ€ he said.

Wall Street is on standby to see if the uptrend will continue or the downtrend in stocks will resume. The bond market is still in control, however, as investors continue to rotate from high-growth stocks to value and cyclical names until rising Treasury yields stabilize, Cramer added.

Longer-term Treasuries are a bellwether for lending rates. Higher rates make cyclical stocks more attractive, leading investors to reduce their appetite for riskier assets.

โ€œIโ€™m betting the bond bullies will be back, so get ready by using rallies like this one to lighten up, as we did for my charitable trust at the end of the day, and certainly lighten up on the high-flying dreamer stocks and the SPACs,โ€ he said. โ€œThat way youโ€™ll have some cash to deploy for the real companies the next time we get hammered like we did yesterday afternoon.โ€

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28 thoughts on “Jim Cramer's game plan for the trading week of March 8”

  1. Cramer you are influenced by the lunatic left, saying mask mandates are needed in Texas? You need a reality check, the states and nations that have no shutdowns and mandates have done far better, the covid pandemic is BS and you should know it.

    Reply
  2. Great content. Everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns. I started investing in the financial market mid March, 2020 with the help of a well-known professional and the profits almost entirely funded my recent duplex and care for my parents.

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  3. Easy game plan for March 8 week is to buy some GME shares. What do you have to say about it now! Hope your still shorting this with your big pocket friends. Pretty sure your aware about the amount of shares shorted in this by now! Remember the shorts are all covered and you guys did a home run video take your profits and move on! The grand slam of all time is coming and soon. Maybe you should of had diamond hands instead of shorting hands! We love the stock and we like your shorts!

    Reply

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