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NEW YORK (
TheStreet) -- Don't let the so-called "soft patch" in the economy rattle you, Jim Cramer told the viewers of his
"Mad Money" TV show Thursday.
Cramer said he's seen dozens of events like these in his 30-year career and they always correct themselves.
Cramer said after the roaring start to 2011, it sure seems like the markets have put on the brakes, with unemployment still high, home foreclosures still high and the price of oil, along with just about everything else, also skyrocketing. Then there are worries about a slowdown in China and a stalled reconstruction in Japan, not to mention talk of higher taxes and looming debt ceiling in Washington, he added.
With all of those negatives, it's easy to see why stocks like
Alcoa(AA), a stock which Cramer owns for his charitable trust,
Action Alerts PLUS
, along with
JPMorgan Chase(JPM) and
Google(GOOG) all sold off on even an inkling of negative news.
But Cramer said there's good news for all the doom and gloom, soft patches often take care of themselves. He said when commodity prices get too high, consumers and businesses cut back and prices begin to fall. China can't risk stalling out their economy, he said, and will soon begin growing again, as will Japan, which has to rebuild eventually.
Cramer reminded viewers that there is indeed always a bull market somewhere and right now that market is in high-growth names that are not impacted by the economy such as
Chipotle Mexican Grill(CMG),
VF Corp(VFC) and
Lululemon(LULU). Cramer said there's also still a bull market in gold.
The key is to be nimble, said Cramer, and don't let the negative news rattle you. He said use the intraday rallies to raise cash and buy into the opportunities as they arise. "Put the market to work for you," he concluded.