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Jim Cramer's 'Mad Money' Recap: A Confused Market

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NEW YORK ( TheStreet) -- The market is confused and that's almost always negative for stocks, Jim Cramer said on "Mad Money" Tuesday. Until there's a resolution the stocks of great companies will continue to be put on sale for those who truly see their value, Cramer continued.

Is good news for the economy bad news for stocks? That's the question that's been plaguing the markets for the past three years, Cramer said, as investors playing the Federal Reserve and macro trends butt heads with those picking individual stocks. Cramer said the Fed watchers are almost always wrong -- they never account for all the positives in the market such as mergers and breakups and spin-offs, all of which are propelling stocks higher. Instead, these investors focus on the macro picture, which is always difficult to translate into the market's next move.

The Fed watchers have always missed the big revolutions like PCs, smart phones, social media, cloud computing and the renaissance in oil and gas, just to name a few. It's always better to focus on individual stories, he said, such as Apple (AAPL), a stock Cramer owns for his charitable trust, Action Alerts PLUS . Cramer said the news that Apple may have finally struck a deal with China Mobile (CHL) and is acquiring social media companies is what's driving that stock, not the latest auto sales or unemployment numbers.

Meanwhile, stocks such as Johnson & Johnson (JNJ), another Action Alerts PLUS holding, are up on analyst upgrades, another non-economic story. Still others, like the oil stocks, continue to be put on sale, giving investors a great opportunity to buy them at great prices.

As in the retail world, eventually the merchandise will be picked up by investors as prices continue to decline. There's a good chance that by the time the macro investors return, all of the great bargains will have been already snapped up. That scenario could happen as early as tomorrow, Cramer concluded.

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Ed Ponzi over the chart of Hewlett-Packard (HPQ - Get Report). Cramer has hated this stock for quite some time but is now changing his tune. Shares of HP are up 93% so far in 2013 -- after reporting an excellent quarter, the stock may be ripe to buy.
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EOG $82.66 0.94%
GTLS $25.75 5.00%
HPQ $12.27 -2.40%
KORS $51.67 -2.20%
NOV $36.07 9.00%


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