While some investors fear the market is about to crash like after 1999's party (Prince), Jim Cramer told his Mad Money viewers Wednesday that he's still a believer (Monkees) and couldn't leave this market if he tried.
Cramer reminded viewers that discipline always trumps conviction, which is why he's taking profits in some of his biggest winners for his charitable trust, Action Alerts PLUS. Just a few months ago, Apple( AAPL ) - Get Reporttraded for $183 a share. Today, the stock crossed $317. It would be foolish not to take a little off the table, Cramer said, even though the company is likely to post an upside surprise this quarter.
There are other stocks to love in this market. Cramer was bullish on Netflix( NFLX ) - Get Report, despite the stock's 3.5% decline Wednesday. While some posit the company's best days are behind it, Cramer felt the stock's valuation was reasonable given its opportunity globally. He was also bullish on names like IBM( IBM ) - Get Report, which trades for just 10 times earnings with a 4.5% dividend yield, and Broadcom( AVGO ) - Get Report, which continues to see strong orders for cell phones.
Is the market likely to crash like 1999? Cramer said he's not entirely sure, which is why it's prudent to take some profits while continuing to invest in best of breed companies trading at reasonable valuations.
Cramer and the AAP team are looking at everything from earnings and tariffs to the Federal Reserve. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.
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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.