Cramer's 'Mad Money' Recap: A Divided Market
In his "No Huddle Offense" segment, Cramer reminded viewers that things are only relevant until they aren't.He said that at this time last year the markets were embroiled in Europe's sovereign debt woes, troubles that, it was thought at the time, would never end. But they did. The European Central Bank hammered out a grand compromise, banks raised cash and the countries themselves forged the budgets thy needed to regain their footing.
That's why Banco Santander (SAN) , which traded just above $4 a share this time last year, is now worth almost $8 a share today, because the crisis has largely passed, he said.
Fast forward to today, when the U.S. is having its "Santander" moment, taking stocks like KeyCorp (KEY) , a stock Cramer now owns for his charitable trust, Action Alerts PLUS, from almost $10 a share to now down below $8. Cramer said there's nothing wrong with KeyCorp other than being based in the U.S.
Be prepared to buy when everyone else is selling, Cramer concluded.
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-- Written by Scott Rutt in Washington, D.C.
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