CNBC’s
Jim
Cramer
on
Tuesday
shared
his
market
predictions
for
2024,
but
also
warned
that
the
first
days
of
the
new
year
often
don’t
say
much
about
the
future.
He
suggested
that
Wall
Street
may
now
be
seeing
a
“sector
rotation“
as
some
investors
doubt
that
the
Magnificent
Seven
tech
stocks
will
continue
their
runs,
instead
buying
up
stocks
that
have
seen
steep
declines
such
as
food
or
pharmaceutical
names.
“According
to
my
crystal
ball,
people
will
take
profits
in
the
best
of
the
best,
the
ones
that
have
defined
this
market,
yes,
the
Magnificent
Seven
and
friends,
as
well
as
the
richly
valued
software
enterprise
names,”
Cramer
said.
“I
think
investors
will
use
that
cash
to
invest
in
companies
that
haven’t
gotten
any
respect
for
ages.”
Many
years
begin
with
a
lot
of
this
“repositioning,”
Cramer
said,
but
the
moves
may
be
temporary.
Investors
may
start
to
buy
back
stocks
that
performed
well
in
December,
albeit
at
lower
levels,
once
companies
start
to
report
earnings,
he
added.
To
Cramer,
a
lot
of
Wall
Street
action
will
center
around
the
Federal
Reserve’s
decisions,
with
many
trying
to
predict
and
then
scrutinize
the
organization’s
moves,
all
the
while
fearing
a
recession.
Rather
than
getting
too
caught
up
with
Fed
worries,
he
said
investors
would
be
wise
to
choose
stocks
of
companies
that
they
believe
have
solid
leadership
and
are
reasonably
valued
—
not
dramatically
higher
than
the
average
stock
in
the
S&P
500.
“So,
wait
patiently
for
the
sell-off
that
I’m
expecting
and
then
do
some
buying,”
Cramer
said.
watch
now
