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NEW YORK (
TheStreet) -- "A rally is a rally," Jim Cramer told the viewers of his "Mad Money" TV show Monday, "even if the wrong stocks are leading it."
He said that today's action proved that Friday's sell-off was not a time to panic, but a terrific buying opportunity.
Cramer said it became clear today that the government's case against
, a stock which he owns for his charitable trust,
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, may have been overblown by the media, allowing the markets to rally. But, he said the stocks that led last week's rally before Friday, did not lead today.
Cramer explained that today's rally was propelled by the recession stocks, companies that investors flock to when they're concerned with a slowdown, not a recovery. He said that's why stocks like
Johnson & Johnson
Procter & Gamble
did so well today.
But Cramer said he's a buyer, not a seller, of this market, regardless of who's leading the charge. He said when companies like
report a monster good quarter, it's hard to ignore the facts that the economy is indeed getting better. He reiterated his buy on Citigroup, saying that the stock should now be able to clear $5 a share.
Cramer said perhaps the only thing that can stifle this market is what he called the "limbo stick" problem, in which it might be difficult for companies this week to top last week's great earnings. But while that may stymie some stocks, Cramer said he expects the market overall to resume its upward trajectory.