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TheStreet Open House

Cramer's 'Mad Money' Recap: Taking Stock (Final)

Stock quotes in this article: S, NFLX, AAPL, MOTR

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NEW YORK ( TheStreet) -- "Sometimes we don't know what's going on in the markets," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday.

"When that happens," he said, "it's time to stop, look, listen and learn." Cramer was doing just that in his live broadcast from the CTIA Wireless conference in Orlando, Fla. to learn about all the latest in the mobile Internet tsunami.

Why focus on tech amidst reports of inventory gluts in tablets, PCs and optical equipment? Cramer said its because in the end, the long-term positives in tech will prevail over the short-term inventory problems. He said mobile technology is changing our lives, and is even helping bring down global dictators, and that's a trend that cannot be stopped for long.

But in the interim, Cramer said investors need to be patient, and scale out of stocks that have become over extended, like tech, and move into stocks whose prices have been depressed artificially.

He said the banks are interesting plays, although they need job growth to truly do well. Cramer said that it's too late to sell stocks like Nike (NKE), which got pummeled after it's most recent results.

Cramer said he'd be a buyer of Lululemon (LULU), but would be a seller of Chevron (CVX) and Marathon Oil (MRO), which are near their 52-week highs.

He remained bullish on the domestic oil and gas producers however, companies like EOG Resources (EOG), Continental Resources (CLR) and Chesapeake Energy (CHK)

"There's nothing big happening right now," said Cramer, which makes it the perfect time to make these changes.

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