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[video] Jim Cramer Quick Take: Get Defensive

NEW YORK ( TheStreet) -- As the government shutdown continues without a resolution in sight, TheStreet's Jim Cramer told Debra Borchardt what investors should do in the current environment.

According to Cramer, some people just don't care what happens with the U.S. debt and wouldn't mind a default. Those people seem to think that's the price we need to pay and seem to have control of the House of Representatives, he added.

The political back-and-forth can wreak havoc on individual investors, but there's an alternative. Cramer, one of the few who has been against the government shutting down from the beginning, said investors could look to defensive sectors to weather the storm.

Bristol-Myers Squibb (BMY - Get Report) can act as a rubric for what investors should be looking for in stocks, he said. Companies that are flush with cash and have no dependency on credit markets are the ones to be in when there's a risk of a default.

Cramer concluded that investors should buy calls to limit risk and use stops to limit losses. This way, investors can risk less, while still having upside potential.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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