Cramer Quick Take: I Don't Like This Market
NEW YORK (TheStreet) -- Jim Cramer may be known for being eternally bullish, but he told Debra Borchardt at TheStreet.com Monday he thinks today's market selloff is actually a good thing.
Cramer said he's horrified when he sees markets that are soaring higher in a straight line. He said that type of parabolic move is not natural, nor sustainable. Markets are supposed to have selloffs and corrections, he added, and he doesn't care if that selling stems from the U.S. or from the island of Cyprus.
Speaking of the tiny, troubled nation, Cramer said he's left wondering, where were the regulators' in Cyprus and how could they possibly let their banks get into so much trouble? He said while many charge the U.S. lets our banks get away with anything they want, regulators in Europe are in a class all by themselves.
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-- Written by Scott Rutt in Washington.
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