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NEW YORK (
) -- "If you haven't sold your stocks yet, don't bother," Jim Cramer said his
TV show Tuesday, as he told them that the bottom may be a lot closer than they realize.
Cramer said its very tempting to sell the industrial stocks, names like
, a stock which he owns for his charitable trust,
Action Alerts PLUS
. But Cramer said the time to sell these names has past, and the time to be opportunistic is now upon us.
Cramer said the urge to sell these stocks after such great losses would be impulsive and emotional decisions, not the type he advocates on "Mad Money." He said based on his 30 years of trading experience, after being down so much, it's time to start buying into these names using wide scales on the way down.
So why so bullish? Look at the tape, said Cramer. When
Procter & Gamble
reported what was arguably the worst quarter in the
, shares rose from $60 to $67 and never looked back. Yet when Caterpillar reported one of the best quarters in the average, it sank like a stone from $116 to just $102. "Do you really think there's a lot of upside left in Procter," asked Cramer?
Cramer said while some companies, like
Research In Motion
are broken companies, companies like Caterpillar and
both said things were improving. And that's why, with commodity prices falling and the global economy on the mend, the bottom in the industrials may be just around the corner, he said.