'I say there's no hurry to start buying here, although … history says that you're going to have to try to pull the trigger soon, rather than be left behind,' CNBC's Jim Cramer says.
Cramer compared Tuesday's market action to what happened the last time a U.S. president was impeached two decades ago.host said about the divided Congress. "How much will that matter to the stock market? You know what, we've seen this movie before."
The major indexes recovered most of those losses the next day on its way to double-digit rallies by the time the House officially voted to impeach then-president Clinton within two months. The Nasdaq, in particular, led the market, increasing 39%, as every pullback proved to be a buying opportunity, Cramer said.
The market is not quite there yet, though, because stocks need to get to an oversold position, Cramer continued. Still, investors can buy shares of companies that have good fundamentals if they continue to get crushed by news out of Washington, he added.
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