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Cramer's 'Mad Money' Recap: Maintaining Market Discipline (Final)

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NEW YORK ( TheStreet) -- "Don't lose your discipline," Jim Cramer warned his "Mad Money" TV show viewers after another modest gain on Tuesday on Wall Street.

Cramer told investors that even though the market may continue higher, they should take some profits and wait for a pullback before buying back in. He then explained what's going right for the markets, and what we still should be worried about.

On the plus side, Cramer said the Chinese stock market has bottomed, meaning that a recovery should be close at hand. Cramer said that's good news for materials stocks, especially copper plays like Freeport McMoRan (FCX), but also other industrials like Honeywell (HON) and Joy Global (JOYG).

Another positives for the markets include auto sales, said Cramer, but that move is mainly benefiting the parts makers like Borg Warner (BWA). There's also a bottom forming in housing, he said, and that matters big for job creation.

But on the negative side, worries in Europe still loom, with debts in Italy being of special concern. Cramer said that Juniper Networks (JNPR) poured cold water on the tech rally today with a weak outlook and he's now concerned that semiconductors may not be as hot as once thought.

Cited cited the high price of oil amidst increased geo-political tensions as another worry for the markets, as are the bank stocks. "Don't overstay your welcome in the banks," he said, once again reiterating Wells Fargo (WFC) and US Bancorp (USB), a stock which he owns for his charitable trust, Action Alerts PLUS , among the only two investable banks out there.

"Ignoring the negatives proved costly last year," warned Cramer, as he told viewers not to forget the lessons of the past.

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