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Is it time to get out of the market?
Everyone's favorite crazy money guy Jim Kramer said on the TODAY show this morning that it's time to get out of the stock market. Anyone who needs that money in the next few years should take it out, though people with stronger stomachs who don't need that money for five years or more could do well to ride it out. People might be listening because the Dow just went under 10,000 for the first time since 2004.
Has anyone cashed out their stocks?
Although Cramer qualified his statement with "those needing money within the next 5 years" I think most people heard "sell you stocks now." I actually think this is a great time to buy stocks if you have time to hold for the long haul, 5+ years. Fundamentals for high quality, cash-rich companies makes their stocks a good buy.
In the end, if a company isn't at risk of going belly up, why sell now?
Jim Cramer is a nut. Thus the name of his show... "Mad Money". But seriously, if you were going to sell, you should have done it months ago when the market was peaking. Anyone who sells @ the bottom is a sucker.