Cramer's 'Mad Money' Recap: Down, But Not Out (Final)

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NEW YORK (TheStreet) -- "Not everything is perfect in this market," Jim Cramer told his "Mad Money" TV show viewers Wednesday.

"But then again, it never is," he continued. Cramer said it's prudent to spend a little time examining the negatives, even if they're only minor points rather than major market worries.

Cramer said it's true that the transports got crushed today, but most of that weakness is coming from one sector, the rails, and most of the weakness in the rails is coming from one commodity, coal. He explained that with natural gas prices now low enough to compete with coal, this makes sense, but it's not a concern for the overall group.

Cramer said there's also been weakness in housing, but with homes still being built at an anemic pace, this weakness has been caused by traders getting ahead of themselves. He said that many traders bet on a turn in the first half of 2012 and it's now looking like that turn is more likely to occur in the second half.

Then there's agriculture. He said farming is big business, and with John Deere (DE) questioning peaking crop prices, it may seem like this sector is too hot. But in reality, it's just taking a breather, he said.

Cramer said the weakness in Devon Energy (DVN) has been a concern for some, as the company reported its cutting back its drilling. But in the details, Cramer noted that Devon is only cutting back on natural gas and is still drilling hard for the more lucrative oil.

In the tech sector, Cramer said that Apple (AAPL), a stock which he owns for his charitable trust, Action Alerts PLUS, is just fine. "It can't go up every day," he quipped. He said the problems at Zynga (ZNGA) are not indicative of other social media plays. He also noted that it's still not too late to sell Amazon.com (AMZN), which he said is not done going lower.

Finally, Cramer said the weakness in the financials is largely due to a slowdown in shares of Bank Of America (BAC), a move that's probably overdue.

In each of these points, Cramer said he understands the urge to sell, but in most cases, these are all just minor points and aren't reasons for major concerns.

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