TheStreet.com TV Recap: Play It Safe

02/27/07 - 02:03 PM EST

CSCO (Action Alerts PLUS PICK) EBAY KMB KO MSFT PEP PG YHOO

"Money is not coming out of the market," it's just being rotated, Jim Cramer said on TheStreet.com TV's Wall Street Confidential Webcast Tuesday.

Money is shifting from the emerging markets to the Cokes (KO - Cramer's Take - Stockpickr) and Pepsis (PEP - Cramer's Take - Stockpickr), he told Gregg Greenberg, the host of Wall Street Confidential.

People just want to be on whatever table is hot, Cramer said. Recently, the Chinese and Brazilian tables have been hot, "but most people don't know anything about these companies or these countries," Cramer continued. "It's unnerving to see how much China can unwind."

People believed these stocks would ramp after the Chinese New Year, but they didn't, he said.

"If you own any China, even though it is down really huge, it is not too late to sell," Cramer stressed. "I would sell anything Chinese today."

What's happening, he said, "is a thesis that we're going to go from 4% to 1% GDP and subprime buttresses that thesis." Therefore, market-players should buy Coke, which was just upgraded by three analysts; Pepsi, which had a good quarter; Procter & Gamble (PG - Cramer's Take - Stockpickr), which "has been biding time"; or Kimberly-Clark (KMB - Cramer's Take - Stockpickr), which just boosted its dividend, Cramer said.