'Look for the stocks of high-quality companies that are going lower even though they deserve to go higher,' the 'Mad Money' host advised.
on Thursday advised that investors go hunting for companies that have strong fundamentals but whose stock prices are backtracking after Wall Street declined for the first time in multiple sessions.
"We needed a breather. The market can't go up every day without some sellers coming out of the woodwork," the "" host said. "This is exactly, though, the kind of pullback I've been waiting for, so we have to use this moment to regroup and figure out the market's next move." The market took a break from its upward climb as valuations on many stocks are nearing their limits, among other market-moving factors, he added.
"Review your portfolio. Understand that if you have a bunch of high-flying momentum stocks — they're going to trade together and they're going to go down — you might want to trim those positions, as we've been doing for my charitable trust," Cramer said.
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