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Former hedge fund manager and popular CNBC TV host Jim Cramer Sounds the alarm about some pockets of speculation in the market, urging investors to sell into ‘snapback’ momentum if they haven’t already done so.
On Tuesday, Cramer warned investors that some speculation in quantum computing, data centers, and nuclear power, along with gold and silver, “won’t go down without a fight.”
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According to Cramer, speculators will continue to compete for a “fast bounce,” which essentially refers to a rebound after a stock decline. He said investors should avoid being fooled by such rallies, and instead should consider selling into them if they “haven’t already done so.”
This comment comes amid increasing volatility in sectors that have witnessed sharp rises in recent months and have since become disconnected from fundamentals.
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Cramer’s advice comes after sharp declines in stocks in these sectors during the day, with gold and silver recording gains Biggest drop in one day years, down 5.2% and 6.7%, respectively.
Quantum computing stocks like Rigetti Computing Company (Nasdaq:RGTI), Quantum computing company (Nasdaq:Qubit) and D-Wave Quantum Company (New York Stock Exchange:QBTS) by 7.64%, 7.41%, and 6.42%, respectively, in addition to the Nuclear Energy Company. Company survey. (New York Stock Exchange:Ok hey) decreased by 12.33%.
Likewise, popular data center stocks such as ERIN LIMITED. (Nasdaq:Erin) and Core Wave Company (Nasdaq:CRV) by 6.80% and 1.57%, respectively.
This comes despite the stability of most major indices during the day, with… Standard & Poor’s 500 by 0.003%, followed by Nasdaq Composite Finally, the index fell by 0.16% Dow Jones Industrial AverageWhich rose by 0.47%.
Image courtesy: Katz / Shutterstock.com
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This article Jim Cramer Warns ‘Don’t Be Fooled’ Because Gold and Nuclear Speculators Won’t Back Down ‘Without a Fight’ Originally appeared on Benzinga.com