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NEW YORK (
TheStreet) -- "Don't be a hero," Jim Cramer cautioned the viewers of his
"Mad Money" TV show Tuesday, as he told investors not to buy any stocks before this market dip is done.
Cramer said the facts have changed, and his worst fear for the economy, gasoline rising above $4 a gallon, is now a real possibility. He said unlike Egypt, Libya and Bahrain have a much larger impact on oil production and prices, and the facts may no longer be on the side of the bulls.
Cramer said the market has had a huge run, and that means there will be a lot of profit taking on this new round of uncertainty. He said that most stocks don't bottom on day one of a decline. Rather they bottom on day two or three. That means more pain ahead for investors.
Buy gold, Cramer told viewers, along with anything energy- or alternative energy-related. He said he'd also be a buyer of anything in the agriculture space on this weakness, as oil prices are unlikely to change eating habits and the need for grain. "Everything else," said Cramer, "no."
"We've made a ton of money in this market," Cramer concluded, "but there are too many negatives and we have to temper out enthusiasm."