Cramer's 'Mad Money' Recap: Profiting From Staying the Course
NEW YORK (TheStreet) -- Staying the course turned out to be the right move last week, Jim Cramer said on "Mad Money" Thursday. He reminded viewers once again that "no one ever made a dime panicking."
Cramer said it's hard to believe that it was just a week ago, in the middle of the horrible selloff, that he told investors that discipline always trumps conviction and they needed to take a deep breath and wait for a better time to sell if they were so inclined. Flash forward to today, and the markets are up nearly 500 points from that recommendation. Those who panicked last week were just plain wrong.
There were several bright spots in the market today, said Cramer, including ConAgra
Even tech stocks like Seagate
Cramer even called out KB Homes
Invest in America: Macy's
Continuing with his week-long "Invest in America" series, Cramer sat down with Terry Lundgren, chairman, president and CEO of Macy's
Lundgren touched on a number of Macy's initiatives, including the My Macy's program, which puts local buyers in charge of inventory in 69 markets around the nation. Lundgren said My Macy's allows inventory to vary from store to store, allowing each to get the right items on a local level.
Another initiative is called Omnichannel, in which 500 of Macy's stores now ship items directly to customers instead of using a centralized warehouse. Lundgren said Omnichannel allows Macy's to sell items from slow-selling locations, avoiding having to mark down those items later on. It also helps with weather-related issues because inventory can be moved quickly from where things are not selling to where they are.