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NEW YORK (
TheStreet) -- "The averages may be telling us to shiver in fear, but the data is telling a different story," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.
He said the statistics from individual companies continue to tell him that the recovery is still on track, so he's ignoring the headlines and the averages and is looking for bargains.
Cramer said that the data is telling him that we're still in good shape, economically speaking, and he just can't ignore such powerful signals. He said that when
, which sells expensive things to farmers, says it's having a good quarter, he has to pay attention.
Likewise with a report citing that the price of uncoated free sheeted paper is heading higher. Cramer said this type of paper is practically the definition of a commodity, so if it's on the rise, then that's good news for
Then there's the recent report which said memory chips are in a multi-year up cycle. That's great news for
, said Cramer.
And there are plenty of other positives as well, said Cramer, like a report that noted that many high-interest bank CDs are coming due, which will be a windfall for banks like
, when these high-interest CDs are replaced by today's lower yielding counterparts.
Finally, Cramer said there are upgrades galore, with companies like
Polo Ralph Lauren
all receiving upgrades today.
Cramer said with all of this positive news, he has no choice but to sit up and take notice, to look at what went down today, and to do some buying tomorrow.