'After a market becomes overbought, you wait until it gets oversold, then you pounce,' 'Mad Money's' Jim Cramer says.
Cramer said he puts his trust in the aforementioned oscillator because it can hold true, despite the unanticipated positive or negative headlines that can sway the market in one way or another. The S&P 500 is down more than 2.3%, or nearly 70 points, since the host said stocks were overbought Sept. 12.
Since then, "I had no idea that this Ukraine story would break and the Democrats would decide to go for impeachment" and that "the ISM purchasing manager's index would plunge into recession territory," among other recent news that had a negative impact on stocks, Cramer said. "For now, we wait," the host said. "After a market becomes overbought, you wait until it gets oversold, then you pounce."
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