This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Cramer's 'Mad Money' Recap: Time to Change Gears

Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.


NEW YORK ( TheStreet) -- It's time to get a little defensive, raise a little cash and have some patience, Jim Cramer told his "Mad Money" TV show viewers Wednesday after yet another volatile day on Wall Street.

Cramer reminded viewers that no one's ever made a dime by panicking, but with the markets getting shaky it's certainly time to change gears.

Cramer admitted he's not crazy about the markets right now, and is even raising extra cash at his charitable trust, Action Alerts PLUS . He said he didn't like last week's snap-back rally nor today's big market opening, and he's also not a fan of how quickly interest rates are heading higher. But despite all those negatives, one fact remains -- companies are doing better.

While the notion that more business means the Federal Reserve will eventually raise interest rates is true, the bigger picture is that more business also means more profits, especially for all those companies that have lowered costs, lowered their leverage and have lots of cash on the books, Cramer said.

As JPMorgan Chase (JPM) CEO Jamie Dimon said recently at an investor conference, the corporate world is in fabulous shape and the U.S. housing market has turned a corner, making owning a home more affordable than ever. That's all great news for stocks, said Cramer, although it make take a little time for the markets to shift its thinking.

So while things continue to be shaky, Cramer advised taking profits and raising a little cash, then being patient and waiting for the dust to settle before buying in for the next leg higher.

Executive Decision: Manny Chiraco

In the "Executive Decision" segment, Cramer sat down with Manny Chiraco, chairman and CEO of PVH Corp (PVH), which delivered a monster earnings beat that sent shares up 6.6% in after-hours trading.

Chiraco said PVH saw strength across the board, especially in the company's Calvin Klein and Tommy Hilfiger brands. He said the weather in the U.S. put a damper on April sales, but those sales returned in spades in May.

When asked about sluggish sales in Europe, Chiraco noted that while Spain and Italy remain weak for PVH, other countries in Europe are fairing better and PVH saw stronger May sales across Europe as well. Even in emerging markets like Brazil and China, Chiraco said, PVH was able to deliver solid growth numbers.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,080.12 -92.56 -0.54%
S&P 500 1,984.13 -10.16 -0.51%
NASDAQ 4,510.2980 -17.3910 -0.38%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs