It is, however, by all appearances not a great time to be long stocks. But before that could happen, the markets would fall in response to Iran's actions and the U.S. commitment to defend Israel. All three enemies — Iran, Russia and China — are, indeed, being challenged by the U.S. in some capacity. But is it really too much to argue that multiple compression is not on par with "the most dangerous" of times? As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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