'The market's gotten more confident that we'll have a speedy, V-shaped recovery ... and that makes the recession stocks less attractive,' the 'Mad Money' host said.
The major averages benefited from positive trading activity during the trading day. With the economy emerging from a monthlong lockdown, Cramer shook up histo reflect the current moment. The index reflects stock picks of companies that the market commentator sees as beneficiaries of the sudden economic downturn.
"The market's gotten more confident that we'll have a speedy, V-shaped recovery ... and that makes the recession stocks less attractive," the "" host said. "But, I've got to tell you, I think it's too soon to give up on the recession stocks. As much as I hope we'll have a rapid recovery where America swiftly gets back to normal, it's tough to bet on it.
"That's why I want to keep most of our defensive exposure. You don't want to get rid of it all," he added. "You need to be protected in case something goes wrong."Cramer dropped the following 10 stocks from the index, which span health care, real estate investment trust, exotics , consumer packaged goods and home entertainment-oriented companies.
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