All in all, it’s not looking good for the retail stocks, even as Cramer doesn’t believe that retail will be weak going into the holidays.
“Taken together, these five factors make it logical to sell nearly every retailer under the sun,” the “Mad Money” host said. “Portfolio managers believe that these stocks simply can’t be as good as they were last year at this time.”
“That means the retail stocks are going to be dumped no matter what, and that’s a very big problem for anyone who owns Target or PVH or Best Buy or Macy’s — the latter is obviously in the grips of this … thinking,” he continued. “It’s going to be a good season for all of these chains, I think, but probably not good enough to make a difference now that Wall Street believes that retail’s about to fall of a cliff.”
Disclosure: Cramer’s charitable trust owns shares of Amazon.
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