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Jim Cramer's 'Mad Money' Recap: The Right Stocks at the Right Time

Stocks in this article: WMT JCP JWN CVE EL CLX SF PLUG QCOM BRCD CCL BMO HIMX

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NEW YORK (TheStreet) -- Many investors are fretting the markets, Jim Cramer told his Mad Money viewers Thursday. But if you're invested in the right stocks, there's a lot less reason to worry.

Cramer said he's been negative on big chunks of the market for quite some time now. He said the momentum names, those with little to no earnings, are like straw houses getting blown away with any market winds.

But those stocks with solid growth and solid earnings, along with those that offer big dividends and the possibility for mergers or breakups, are the brick houses that can withstand any market storm.

Cramer said the market has gone up a ton, so he's certainly not discouraging investors from taking profits and raising cash. But while much of the market is worrying over falling interest rates sending the economy back into recession, the smart money is focusing on the positives -- like more people getting put back to work.

Some investors cited Wal-Mart's (WMT) disappointing quarter as a reason to worry, but Cramer pointed to both J.C. Penney (JCP) and Nordstrom (JWN) as proof that maybe Wal-Mart's problems are just Wal-Mart's.

In the end, Cramer said there are fewer good stocks out there, but they are still out there for those willing to embrace the positives.

Looking for Value

With investors looking for value, why not turn to a company that's lagged the markets but still has a ton of upside potential? Cramer said Cenovus Energy (CVE) is one such company, one that pays a bountiful 3.4% yield yet has seen its shares fall 2.7% over the past 12 months.

Cenovus is one of the fastest-growing oil producers in the Canadian oil sands but was plagued by operational issues that made for a tough 2013. But while the market has taken a "wait and see" approach, Cramer said he thinks the company's issues are behind them and it won't be long before the stock warrants the premium it once had.

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