Home » Jim Cramer breaks down Monday's sell-off: Still see no reason to buy financial news

Jim Cramer breaks down Monday's sell-off: Still see no reason to buy financial news

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“Mad Money” host Jim Cramer said Monday he still has yet to find a reason to buy stocks amid the September pullback. Subscribe to CNBC PRO for access to investor and analyst insights:

CNBC’s Jim Cramer said Monday he expects the selling on Wall Street to continue, suggesting investors wait before buying and taking advantage of the pullback in stocks.

“Mindless dip-buying has been a great strategy for the past 15 months, but it’s worthless in the face of a serious sell-off, which is what we have now,” the “Mad Money” host said.

“I’ve been encouraging you to sell ahead of what’s usually the weakest time of year. I can’t turn positive until I find an actual reason to change my mind. For the moment, we’re not getting any,” he added. “So, please, if you want to be a buyer, find a reason to buy. Let the pain of late September unfold before you try to pull the trigger.”

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Cramer’s comments Monday came after the S&P 500 registered its worst performance since May 12, dropping 1.7%. The Dow Jones Industrial Average sank 614 points, or 1.8%, while the tech-heavy Nasdaq declined 2.2%. At its lows Monday, the blue-chip Dow was down 971 points.

All three major averages are down more than 3% so far in September, which is a historically rough month for stocks as Cramer has warned for weeks.

There are multiple factors weighing on Wall Street beyond just seasonality, Cramer said, pointing to concern about the struggling Chinese property developer Evergrande and Beijing’s response to its financial woes. Additional worries for the market include gridlock in Washington on debt-ceiling negotiations, uncertainty about whether U.S. Covid cases are actually peaking and the Federal Reserve’s two-day policy meeting that begins Tuesday.

He also expressed concern about the number of new public listings leading to excess stock supply, as well as what Cramer believes is a calming, at least temporarily, in meme stocks such as GameStop.

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“I can’t honestly turn bullish on this market until you turn bearish, until we come up with some rationale for why the selling is going to stop. Right now, we simply don’t have one,” Cramer said.

“So we sit tight and wait for something that might compel us to buy a stock because we think it’ll go higher,” he added. “For the moment, though, we’ve got nothing to hang our hats on. … If anything, we have a lot of reasons to sell, including tonight’s report from Lennar where the great homebuilder actually missed guidance.”

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39 comments

Tom Earley 27/09/2021 - 9:14 PM

That did not turn out

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C Richards 27/09/2021 - 9:14 PM

…and the market roared 2 straight days after this video…lol

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John Yen 27/09/2021 - 9:14 PM

lol what a clown.

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cee gee 27/09/2021 - 9:14 PM

hilarious

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Simon 27/09/2021 - 9:14 PM

if you did opposite of what Jim says, you would actually be rich.
In 2008 Jim recommended to buy into CDOs because they cant go down.

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Edward Aldrich 27/09/2021 - 9:14 PM

Don't BUY! I have to hide the fact that I am shorting stocks – nice one Cramer.

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James 27/09/2021 - 9:14 PM

Kermit! 6:04

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Arthur Korff 27/09/2021 - 9:14 PM

Don't disparage your audience jim

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PrimeDrift 27/09/2021 - 9:14 PM

Cramer, I love you man… but you really have to stop telling people to sell their Bitcoin every time there is China FUD.

1) Tether has no exposure to Evergrande. None. Zero. Zip. Zilch. Nada.

2) Did you really just say you'd like Bitcoin more if Communist China was backing it? Lololol.

Now that China's miners have left the country, miners everywhere else will be MUCH MORE PROFITABLE.

Take a look at the RIOT blockchain chart. Or better yet, have someone who is actually good at TA look for you. MAR 40C are a steal at $4.50

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sky 27/09/2021 - 9:14 PM

Check Avax and SOLANA after bitcoin

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Kevin Chaplin 27/09/2021 - 9:14 PM

Don't buy the dip, that's crazy!
Buying the dip is the only way I have made money in the market.

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m m 27/09/2021 - 9:14 PM

lol there is not a single positive comment about this dope

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mrslugur 27/09/2021 - 9:14 PM

7:10 JIm finally lost it

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m m 27/09/2021 - 9:14 PM

It's amazing how CNBC found a real live walking talking bell-end to get up there and shill like that for years.

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TheJohnnyCashish 27/09/2021 - 9:14 PM

He’s got a lot on a short position. So so many others. He can’t hide it well

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Ooo Mmm 27/09/2021 - 9:14 PM

yea get REKT

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James Chanda 27/09/2021 - 9:14 PM

He has been right like 3 times in 12 years

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marcell.newman 27/09/2021 - 9:14 PM

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Brian Keely 27/09/2021 - 9:14 PM

Wrong !

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Norcalbucks 27/09/2021 - 9:14 PM

I see people are still into wasting their time on lies and fabrications…

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SimonJPA Baillargeon 27/09/2021 - 9:14 PM

So in resume. You should buy the dip. Maybe a truck load of it. Before Jimmy Poop, buy all of it. LOL I think he is testing a new weed product. LOL Because when it's going to go up again. Well it's going to go higher.

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A L 27/09/2021 - 9:14 PM

A good strategy is do the opposite of what he says.. if he said buy then sell.. if he said sell then buy other wise we would see many billionaires

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Khaled Kais 27/09/2021 - 9:14 PM

Always do the opposite of what Cramer says and you will win more than you lose

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NatterD D. 27/09/2021 - 9:14 PM

They’re using payment for order flow (as cattle lined up to a slaughter house) We then get an IOU and our stock is put into dark pools. These dark pools are a remote control for the market where they throttle to keep the market price and secondary hidden book price parallel.
Dark pools control the “human” Element of buying pressure and Single line python code/algorithms creates the outcome.
Every stock is on a loop cycle replaying the same movements in fractional segments. The entire market and crypto is a orchestrated Ponzi scheme

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eighty6 27/09/2021 - 9:14 PM

Is anybody making money off this guy?

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B. Water 27/09/2021 - 9:14 PM

Technically, SP500 chart is right back to the trendline…
= buy the dip.

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Primordial Software 27/09/2021 - 9:14 PM

Stupid Cramer will tell you to buy once the prices go up in December/January. Personally I'm enjoying the sale, but I'm not a stock gambler.

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Aloha Aina 27/09/2021 - 9:14 PM

Works for the bad guys & everyone knows it , most if not all the viewers are the boomers crowd with a lousy 401k at 3%

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Aloha Aina 27/09/2021 - 9:14 PM

Do the opposite ….Works for the bad guys

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Eric Spain 27/09/2021 - 9:14 PM

Well said

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Jess Trade 27/09/2021 - 9:14 PM

Damn, what a raging sociopath this guy is. After all these years he gets more and more airtime.

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Justin Vines 27/09/2021 - 9:14 PM

“Permanent intellectual vacation” that’s a good one

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David McVey 27/09/2021 - 9:14 PM

BUY! BUY! BUY!

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Sam Brown 27/09/2021 - 9:14 PM

The past few weeks my portfolio has been red and I've had a smile on my face the whole time. BUY THE DIP BOYS!

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Isaiah Gauthier 27/09/2021 - 9:14 PM

Did he just say a country should never have a 300 billion debt load? And the US? Or did I just miss something?

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Jose Ortiz 27/09/2021 - 9:14 PM

Also I like the fact that he mentioned GME and AMC and Stoncks…. We are now officially a force of nature in the world of the market and they are scared af lol

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Jose Ortiz 27/09/2021 - 9:14 PM

So buy the dip then lol

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Steven Cornwell 27/09/2021 - 9:14 PM

HAHAHAHHAHAHA HES POOH

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Faisal Mir 27/09/2021 - 9:14 PM

Jim Cramer saying not to buy is all the sign I need to buy…

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