Jim Cramer urged investors not to get swayed by market bears and instead bet with the bull market.
Stocks rose on Wednesday after Federal Reserve Chair Jerome Powell said in a press conference following thethat inflation has started to cool down, though he didn't indicate that a pause in rate hikes would come anytime soon.
The market's gains reversed earlier declines that came on the back of a quarter-point rate hike. Cramer said that while the selling would have made sense last year, when inflation was still skyrocketing and the Fed was aggressively raising rates, a bearish approach to trading doesn't work anymore. "It no longer makes sense once the Fed says the rate hikes are working and we're pretty far along in the tightening cycle, even as they are still seeing some wage inflation," he said.– meaning that when market bears do get scared into selling, investors should pounce on the chance to buy.
"Those who keep fighting the bull, as they did today, think they're in a bear market, and they get trampled. Today was a real trampler, and the bears – they still don't know what hit them," he said.at no cost to help you build long-term wealth and invest smarter.
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