'Mad Money' Recap: Buying on Dips

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NEW YORK (TheStreet) -- The only investment strategy that's working is to stay flexible, sell into strength and buy into the leaders on the dips, Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

According to Cramer, anyone who bought stocks at the lows of this morning's pullback made out like bandits by the end of the day. That's why he told viewers that the dips "must be bought."

He said that since March 6 of this year, no pullback in the S&P 500 has been greater than 5%. So anytime investors see moderate pullbacks, in the 3% to 5% range, that's their queue to buy.

Cramer said he's still also bullish on Citigroup (C Quote), a stock he recommended on Aug. 6. Cramer said Citigroup is another speculative name that's looking better and better by the day.

Cramer said investors need to stick with what's working, and that's all of the market leaders, which he coined the acronym of BOAT for banks, oil, aerospace, and technology. He said the sectors have been on a roll since March.

With today's news that Boeing's (BA Quote) 787 Dreamliner might actually fly by year end, Cramer said Boeing will lift the entire aerospace sector.