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EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stock Under $10 that he thinks could potentially double or triple in the next 6 to 12-months. See what he's trading today with a 14-day FREE pass.

Cramer: Yes, Europe Is Turning

Or you can buy any one of the companies I have mentioned that have seen a turn. I am particularly impressed with what GE has to say, but Ingersoll Rand or Johnson Controls would get the biggest boost from Europe down the road, and they have now become go-to stocks in any decline. I am not a big fan of Manpower because that's a tough business, but it just jumped 11 points, from $54 to $65, in a couple of weeks' time.

The ultimate takeaway, though, isn't so much what to buy because of Europe. It's what not to sell because of Europe. So many companies have had their earnings kept back, and so many had been crimped by Europe, and suddenly that's just not happening anymore. It's a huge turn, and this is a continent with 600 million people, the largest market for China and a gigantic market for the U.S. Sure, China's in decline and, yes, Latin America's just so-so.

But Europe turning? Who'd a'thunk it?

Yet it is undeniable, and you would know it if you'd just listened to all of these calls and heard what the companies with boots on the ground have had to say.

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long GE and HON.

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