Jim Cramer's 'Mad Money' Recap: Profiting From Down Days
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NEW YORK (TheStreet) -- When you know what you want to buy ahead of time, down days like today are made for you, Jim Cramer said on "Mad Money" Monday after a lackluster day of Wall Street.
Cramer said he's noticed a disturbing pattern in the markets, one where the futures indicate a strong open first thing Monday morning and investors can't seem to help themselves from piling in. But as history has proven, buying first thing Monday morning when the markets are up big is never a winning move.
There is always a better time to buy later in the morning, Cramer continued, which is why he urged all investors to make a new year's resolution to never pay up on Monday mornings.
So what should investors buy when the market cools? Why not the stock of a company with a strong, long-term theme and a bankable CEO? Cramer said he's still a fan of his "four horsemen of biotech," which include Celgene
Cramer noted that Celgene remains his favorite among the group thanks to its strong pipeline of new drugs. Furthermore, the company received a downgrade today, sending shares lower and giving new investors the perfect opportunity to begin a position at a great price.
So don't buy on the open, wait for great American companies like Celgene to be put on sale and start buying, Cramer concluded.
The news that Liberty Media
Cramer explained that Liberty helped save Sirius from bankruptcy back in 2009, a move that gave it 52% ownership of the satellite radio giant. This week's deal is a complicated one, one where Liberty will create a new class of stock, Liberty Class C, which will trade under the ticker "LMCC."