'RealMoney' Radio Recap: Now Is the Moment to Strike

It always gets in the middle of earnings, when big hedge fund and portfolio mangers get overwhelmed and sloppy, making mindless extrapolations as earnings report after earnings report hit the market, said Jim Cramer on his "RealMoney" radio show Thursday.

While Wall Street panics, "this is the single best moment to make money," he said, "but you have to stay focused."

Caterpillar(CAT Quote) is doing well because we need it for mining and energy projects, he said. Its success tells Cramer that it's time to stop selling the energy-related companies.

Textron(TXT Quote) is up, he said, because now is the time to hold onto aerospace-related companies.

There were bad rumors about Cephalon(CEPH Quote) that pushed the stock down $5 overnight, Cramer said. But when the rumors cleared, the stock regained ground.

Cramer said Amgen(AMGN Quote) may face a similar fate.

So where does he see the bull markets? Cramer said to look for the bull market in infrastructure plays, as well as in oil and oil services.

"We're drilling like mad because we're running out of oil," he said.

Cramer also said that aerospace will be a hot sector, and that the easiest way to play the trend is to pick up Boeing(BA Quote). He recommended companies that make gadgets smaller or larger than a personal computer, as well as health care cost-containment companies.

He said to stay away from PC plays, classic pharma and banks that can't handle another two interest rate hikes from the Federal Reserve.

"And never forget to ring the register," he said, "because we don't want to repeat the woes of 1999 and 2000."

Consider Conexant(CNXT Quote), he said. For investors who picked it up when he recommended it at $1.80, the stock has nearly doubled, and it's time to ring the register, Cramer said.