Jim Cramer is calling out what he sees as unwarranted negativity on Wall Street.
On CNBC’s Mad Money Wednesday evening, the veteran host said investors are missing the true signal in the market—falling oil prices—and overlooking the power of the “Trump Put,” a reference to the president’s willingness to prop up confidence when markets wobble.
- USO is moving. See the chart and price action here.
Doom Bobs And Naysayers
Cramer took aim at what he labeled the “doom Bobs,” pessimistic observers who insist oil will stay elevated even if the Middle East conflict cools and that high prices will condemn the global economy to stagnation.
“That’s just wrong,” Cramer said, arguing that traders are stuck in denial about how quickly sentiment can change when President Donald Trump‘s rhetoric and diplomacy is in play.
“When in doubt in this market, check the direction of oil. Ignore those who scoff at every …
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