Welcome the Selloff as a Chance to Get In

Ugly. Really ugly. But I don't buy the "end" of the rally. I regard this as an opportunity, and I am not backing down.

I know that we have tons of stocks that I like selling off right now, and I have wanted this chance to buy these stocks, and I can't say, "Nope, not now, let it go much lower."

I like to buy in stages, as everyone knows, and I look at a stock like a State Street (STT - commentary - Cramer's Take), and I just have wanted to get a full position in this name for some time. Can it go lower?

Sure.

Do I want to buy it if it goes lower?

Absolutely. Same thing with a stock like a Verizon (VZ - commentary - Cramer's Take) or AT&T (T - commentary - Cramer's Take). Same with PPG (PPG - commentary - Cramer's Take). Same with VF Corp. (VFC - commentary - Cramer's Take). Same with Nike (NKE - commentary - Cramer's Take). They are going to have good numbers with all of this retail activity.

This is the break I want to use to buy a stock like that. Nothing wrong with them. Good yields. They will see a turn if things get better.

Qualcomm (QCOM - commentary - Cramer's Take): Here's one that's having its first price break in some time. Have to get some in.

Helene has a note this morning about good and bad markets, and she talks about how markets can go up for six straight months.

We are only in the second month, and I do not regard this pullback as something to be avoided.

I regard it as something to be embraced.

Of course, all of the news is good about health care, from Health and Human Services Secretary Kathleen Sinelius' comments that are pro-HMOs to the FDA news, so there is a fundamental reason for the countertrend.

When the countertrend rally peters out, that might be the best point to go bigger.

But in the interim intraday selloffs should be bought.

And we are having one of them.

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

At the time of publication, Cramer was long NKE, VFC, STT and QCOM. Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com.