Jim Cramer's Mad Money Stock Recap 10/6
Cramer told viewers of his "Mad Money" TV show Monday that it might be time to take some money out of stocks and put it into plain old saving accounts.
He said while it's not time to sell everything, he advised viewers that if they need cash in the next five years, a Federal Deposit Insurance Corp. (FDIC) insured savings account is the only way to guarantee your money will be safe.
Cramer went on to say that investors would be foolish to keep all of their money in stocks in such a volatile market. With some many questions still looming about the recently passed bailout package, Cramer outlined his plan for what he government should do next.
Cramer said the first thing that needs to happen is the FDIC needs to stop seizing banks and announce once and for all that they're done with seizures. With the bailout package now in place and the FDIC insurance limits raised to $250,000 per account, he said the market has the tools it needs to work out the rest of its problems without government intervention.
Source: TheStreet.com
He said while it's not time to sell everything, he advised viewers that if they need cash in the next five years, a Federal Deposit Insurance Corp. (FDIC) insured savings account is the only way to guarantee your money will be safe.
Cramer went on to say that investors would be foolish to keep all of their money in stocks in such a volatile market. With some many questions still looming about the recently passed bailout package, Cramer outlined his plan for what he government should do next.
Cramer said the first thing that needs to happen is the FDIC needs to stop seizing banks and announce once and for all that they're done with seizures. With the bailout package now in place and the FDIC insurance limits raised to $250,000 per account, he said the market has the tools it needs to work out the rest of its problems without government intervention.
Source: TheStreet.com
Labels: Jim Cramer, Mad Money, Mad MOney Recap
posted by Stock Administrator @ 7:52 AM
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