Take the Market's Triple-Witch Gifts

Remember, triple witch. You always catch a big down day each week that we have one. This could be it, especially with the catalyst of energy.

But also remember, that's always the case. There's always a catalyst. I loved days like this one because I would have these gems, these stocks I had no right to be able to get into, at prices below where had a right to get them.

Take Bear Stearns (BSC - commentary - Cramer's Take). The Street was totally wrong again about this company. The Street must be thinking this is the old Bear Stearns, levered to a couple of fixed-income guys sittin' around and trading.

Wrong! Bear's leapfrogged ahead of a lot of people in mergers and acquisitions, in prime brokerage and in mortgage-backed securities. It's the smartest equity shop around, and it has feasted off Morgan Stanley's (MWD - commentary - Cramer's Take) very visible problems. Plus, I didn't see Bear paying $2 billion out on Enron or WorldCom. We don't have evidence of rogue players at that firm, because management there is on the phone, making calls, in your face; makes me believe that the ethical problems at the other firms couldn't happen at Bear. They are problems of supervision, and Bear never allowed a Jack Grubman to run an unsanctioned police force within a police force, like Brazil in 1937.

You shouldn't be able to buy this stock here, this low, but you can because of the market's slide.

Or how about Dean Foods (DF - commentary - Cramer's Take)? You should never be able to buy a stock within a point of a major upside surprise, but it is being pulled down by market forces, too. You got a gift going there. It should be back at $43.

Or Boeing (BA - commentary - Cramer's Take), which obviously is some sort of key to expiration because that feels like it would be at $65 without the gravitational pull of the market.

Or ConocoPhillips (COP - commentary - Cramer's Take), which, given where oil futures are, should be up a deuce, not a fraction.

So, I would be taking care of the gifts that options expiration gives us on the stocks with news, and I would buy, and buy aggressively, some for a trade, but some for an investment.

Lots of opportunity.

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James J. Cramer is a director and co-founder 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 by clicking here. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict."