“Cramer has expressed concerns about the market for a while. He’s advocated watching developments as well as price action very closely. But now, he says, if you haven’t already, it’s time to act.
“If you have big profits, ring the register,” Cramer said. “If you’re already in cash, sit tight.”
Largely the “Mad Money” host is very worried about sudden developments out of Iraq, with militants seizing control of major cities, some of which are in important oil producing regions.
President Obama said on Thursday that he was watching the rapid developments with “a lot of concern,” and that the United States stood ready to provide increased help to the Iraqi government, though he did not specify what kind.
“So what will it be? Airstrikes? Drones? Soldiers? Boots back on the ground in Iraq? That’s uncertainty writ large. And if the market hates anything it’s uncertainty,” said Jim Cramer.
These developments change the game….”
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