Cramer's 'Mad Money' Follow-Up: Don't Panic

On Tuesday's "Mad Money" show, Jim Cramer encouraged viewers not to panic or lose their cool in this market.

He said he stills see strength in stocks such as Goldman Sachs(GS Quote) and JPMorgan Chase (JPM Quote), both of which he owns for his Action Alerts PLUS charitable trust, as well as in Bank of America(BAC Quote).

On Wednesday, Goldman Sachs added 13 cents to close at $120.49, JPMorgan lost 63 cents, or 1.9%, to $31.90, and Bank of America closed down 50 cents, or 5.7%, at $8.26.

He said he recently bought more Caterpillar(CAT Quote) for Action Alerts PLUS based on its strength in China and march sales number.

Caterpillar added $1.06, or 3.4%, at $32.45 on Wednesday.

Cramer said that Halliburton(HAL Quote) deserved its recent downgrade from JPMorgan because its "fundamentals are still deteriorating."

On Wednesday, Halliburton closed down 9 cents to $19.87.

As for Coca-Cola(KO Quote), which colleague Rick Bensignor likes, Cramer still prefers Action Alerts PLUS stock Pepsi(PEP Quote) because it has less international exposure and thus more to gain as the U.S. market recovers.

Coca-Cola lost 16 cents to close at $42.93 on Wednesday, while Pepsi was down $1.37, or 2.8%, at $47.98.

Cramer spoke with Consolidated Edison(ED Quote) CEO Kevin Burke, who said that New York sales are doing well and that the company has a small carbon footprint. Cramer said that he liked ConEd for it dividend and its forward-thinking.

ConEd closed down 69 cents, or 1.8%, at $37.58 on Wednesday.