RealMoney Radio: Silly Selling

Editor's Note: Today's marks the final day of Jim Cramer's RealMoney Radio show and the RealMoney Radio Recap. Jim will now be focusing on initiatives at TheStreet.com, including video work like his daily Market Updates. Be sure to come to TheStreet.com to check them out. And sign up for the Daily Booyah newsletter if you haven't already -- we'll send you an email twice a day with recaps of what Jim's said in his videos and on his Mad Money TV show.

People tend to get caught up in "pockets of emotional frenzy," which is what is causing the "hideous" selloff today, Jim Cramer said on his "RealMoney" radio show Friday.

And now people are talking about a hard landing, but Cramer said he begs to differ. In fact, he believes "it's pretty amazing here" in the market.

Interest rates are going down, and people are fretting about that, which is "silly," he continued. These low interest rates are making big investors in this country switch out of bonds and into stocks, Cramer said.

"I always want a soft landing because it is better for more stocks than a hard landing, as a soft landing makes it easier to find the bull markets wherever they might be," he said.

"But I'll be darned if I am going to start selling this market because the competition's becoming absurd."

Moreover, Cramer believes that we are going to see "a wave of takeovers" because of the weak dollar. He urged market players to start thinking about the weak dollars as foreigners do.

As foreign companies have begun to think of American companies as being weak and cheap because of the declining dollar, they should start taking them over, Cramer explained. And people who have panicked and gotten out of the market will regret it, he said, as "the best is yet to come."

Joy Global (JOYG Quote), Ingersoll-Rand (IR Quote) are two companies which Cramer believes could get potential takeover bids.

Although for some parts of the economy the weak dollar may be negative, for takeovers it is positive, he said. Moreover, people should not worry about the weak dollar unless they are traveling abroad because then they will have to pay more.

To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.