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On Tuesday's "Mad Money" show, Jim Cramer encouraged viewers not to panic or lose their cool in this market.

He said he stills see strength in stocks such as

Goldman Sachs



JPMorgan Chase


, both of which he owns for his

Action Alerts PLUS charitable trust, as well as in

Bank of America



On Wednesday, Goldman Sachs added 13 cents to close at $120.49, JPMorgan lost 63 cents, or 1.9%, to $31.90, and Bank of America closed down 50 cents, or 5.7%, at $8.26.

He said he recently bought more



for Action Alerts PLUS based on its strength in China and march sales number.

Caterpillar added $1.06, or 3.4%, at $32.45 on Wednesday.

Cramer said that



deserved its recent downgrade from JPMorgan because its "fundamentals are still deteriorating."

On Wednesday, Halliburton closed down 9 cents to $19.87.

As for



, which colleague Rick Bensignor likes, Cramer still prefers Action Alerts PLUS stock



because it has less international exposure and thus more to gain as the U.S. market recovers.

Coca-Cola lost 16 cents to close at $42.93 on Wednesday, while Pepsi was down $1.37, or 2.8%, at $47.98.

Cramer spoke with

Consolidated Edison


CEO Kevin Burke, who said that New York sales are doing well and that the company has a small carbon footprint. Cramer said that he liked ConEd for it dividend and its forward-thinking.

ConEd closed down 69 cents, or 1.8%, at $37.58 on Wednesday.

At the time of publication, Cramer was long Pepsi, Goldman Sachs, JPMorgan and Caterpillar.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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