Cramer's 'Mad Money' Recap: Play It Cool

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"No one ever made a dime panicking," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday. "And that's why those who sold yesterday want to shoot themselves today."

Cramer described today as the perfect bull market down opening. As soon as the market was down 5% from its recent highs, it recovered, he said. Just as predicted, the tech stocks lead the charge, followed by the banks, the oils and even the industrials, he added.

Cramer said he continues to see strength in Goldman Sachs (GS Quote) and JPMorgan Chase (JPM Quote), two stocks he owns for his charitable trust, Action Alerts PLUS, along with Bank of America (BAC Quote).

In the industrial sector, Cramer said strong comments from Caterpillar (CAT Quote), especially about strength in China and decent March sales, made him buy more shares for Action Alerts Plus. The only surprise in today's market was high-end retail, with positive comments from Coach (COH Quote), he said.

Cramer said panic didn't work yesterday, and it won't work tomorrow. "You can't afford to lose your cool," he said.