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TheStreet Open House

Cramer's 'Mad Money' Recap: My Mobile Internet Index (Final)

Stock quotes in this article: JNJ, BMY, BAC

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NEW YORK ( TheStreet) -- "When you get across the board weakness like today, use the opportunity to buy into the themes that are working," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday.

He said today's decline in the market was a gift, and investors need to use the dip to buy into what he calls the "Mobile Internet Tsunami," a multi-year trend that could be as big as the personal computer and Internet revolutions.

Cramer unveiled his new "Mobile Internet Index," a group of 21 stocks that encompasses what he considers the best when it comes to what's needed to make the mobile Internet a reality. Cramer said this index will use today's closing prices, and start at a value of 100, to tracks the performance of these great companies.

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Some of the notable stocks in the index include Google (GOOG), the leader in the Web space, along with device makers Apple (AAPL) and Research In Motion (RIMM).

Cramer said the index also needs the component makers, such as Starent Networks (STAR) and backbone providers like Cisco (CSCO), a stock which Cramer owns for his charitable trust, Action Alerts PLUS , and its smaller speculative rivals Ciena (CIEN) and Tellabs (TLAB).

Cramer's index also included companies providing text messaging services, Tekelec (TKLC), and antenna specialists like CommScope (CTV). Finally, Cramer said there will be a need for more storage, and that means Sandisk (SNDK).

Cramer said his Mobile Internet Index is the place to be, especially on weak days like today.

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