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What's the real reason behind today's big market selloff?

"The market is just sick of paying retail," Jim Cramer told the viewers of his "Mad Money" TV show Monday.

Just like in a retail store, customers wait for a sale if things are overpriced, he said.

Cramer discounted the notions that global economic worries or rising crude oil prices were to blame for another down day on Wall Street. He said that stock prices are simply too high, and investors are waiting for a pull back before before the resume buying.

According to Cramer, stock prices couldn't stay as high as they were without additional economic data to support them. And since there isn't anything new to report, they're coming back down. "Things aren't getting worse," he said, "they're just not getting better yet."

Cramer said the same pattern occurred last month in May. The market also had a multi-day selloff back then that was immediately followed by a 5% rally.

So what are the stocks to buy? Cramer said when the selloff is over, he'd look at

Huntington Bancorp

(HBAN) - Get Huntington Bancshares Incorporated (HBAN) Report

, which is now "on sale," down 9.5%. He'd also consider

Lincoln National

(LNC) - Get Lincoln National Corporation (LNC) Report

, a stock that just raised a boatload of cash and is on the road to recovery.

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Cramer said he's also a buyer of


(AAPL) - Get Apple Inc. (AAPL) Report

, asking why the media can't just cheer for the return of CEO Steve Jobs, instead of asking questions about corporate governance.

Cramer said his bottom line is not to panic on days like today but thankful that stocks are going on sale.

China Wireless Internet Play

Cramer added a new name to his list of companies benefitting from the revolution in wireless Internet. He said that


(CTV) - Get Qwest Corp 6 7/8 % Notes 2014-1.10.54 Sr Report

, which wasn't even on his radar, turns out to be the way to play broadband expansion in China.

Cramer said an article in this week's


trade paper alerted him to cell phone carriers in China lowering subsidies on new third generation, or 3G, smartphones, to slow demand while they beef up network capacity and performance.

Cramer said there is only one company with the expertise fix bottlenecks in wireless networks, and that's Andrews Corp., which was acquired by Commscope in 2007. Cramer said after researching the company further, he concluded that Andrews is still alive and well at Commscope, and they're now the company to benefit from wireless expansion both in China and India.

Why wasn't Commscope on Cramer's radar in the first place? He said that after the Andrews acquisition, the company was mired in debt and on the verge on bankruptcy. However, the company recently issued new stock and bonds and paid down a large portion of their debt.

According to Cramer, the explosion in wireless demand, coupled with falling copper prices, makes the earnings estimates for Commscope too low. He said Commscope will either blow away the current numbers or be upgraded soon.

A Second Take

After being stumped during Friday's "Lightning Round," Cramer returned with his opinion on Latin American wireless provider

NII Holdings

(NIHD) - Get NII Holdings Inc Report

, and it wasn't positive.

Cramer said he's taking his cues from a Goldman Sachs analyst, who recently downgraded the company after a 90% rise since March, and who's been consistently right on the state of affairs in the Latin American wireless market. "Never go against the guy who's been right," said Cramer.

According to the analyst, NII Holdings is now priced for perfection and is not taking into account the risks of slowing subscriber growth and increased customer defection and bad debt expenses.

Cramer added to the negativity by stating that the upcoming 3G wireless spectrum auctions in both Mexico and Brazil will hurt NII Holdings given that 3G network build-outs are proving to be far more expensive than companies estimate.

Cramer said a better choice in Latin America would be

America Movil

(AMX) - Get America Movil SAB de CV Sponsored ADR Class L Report

, which has already completed its 3G network rollout.

TheStreet Recommends

Outrage of the Day

Cramer sounded off at

Regions Financial

(RF) - Get Regions Financial Corporation Report

CEO C Dowd Ritter, a man already on his "Wall Of Shame" list of the worst CEOs. According to a recent Wall Street Journal article, just days after taking government TARP bailout money, Ritter took a $17,000 trip on a Regions corporate jet. Cramer called Ritter despicable and moved him to the No. 2 spot on his Wall of Shame list.

Cramer told another viewer that his call to buy


(BA) - Get Boeing Company Report

ahead of the big Paris Air Show was wrong, but he still believes in the aerospace bull market and remains bullish on Boeing.

Lightning Round

Cramer was bullish on


(GOOG) - Get Alphabet Inc. Class C Report



(MCD) - Get McDonald's Corporation (MCD) Report


Urban Outfitters

(URBN) - Get Urban Outfitters, Inc. Report


He was bearish on





(SBUX) - Get Starbucks Corporation Report




Coldwater Creek



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At the time of publication, Cramer was not long on any stock.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

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