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Welcome to the end of October, that time of year when there are a million reasons to sell, but not many reasons to buy.

Jim Cramer told his Mad Money viewers Monday that while investors continue to worry about both the Federal Reserve and China, it's China that is causing the most concern. So far, China hasn't budged in its trade stance, and that could have lasting effects for stocks that operate there.

Which stocks are being hammered in this choppy market and which could fall even more?

Perhaps the biggest worry is Rockwell Collins (COL) , which could see its merger plans stifled. Cramer said he's also very worried about Micron Technologies (MU) - Get Micron Technology, Inc. Report , which now trades for just four times earnings. Even Kimberly-Clark (KMB) - Get Kimberly-Clark Corporation Report is seeing a big slowdown in its Chinese business and that weakness could bleed into PVH (PVH) - Get PVH Corp. Report , Starbucks (SBUX) - Get Starbucks Corporation Report and yes, even Apple (AAPL) - Get Apple Inc. Report .

Investors have been selling everything that has to do with China, Cramer said, and they're moving their money into FANG, Cramer's acronym for Facebook (FB) - Get Meta Platforms Inc. Class A Report , Amazon (AMZN) - Get, Inc. Report , Netflix (NFLX) - Get Netflix, Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report . None of these companies has anything to do with China or the Fed, Cramer concluded, which is why they seem like the only game in town at the moment.

Cramer and the AAP team are adding to their position in WestRock (WRK) - Get WestRock Company Report . Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

Executive Decision: Hasbro

For his "Executive Decision" segment, Cramer spoke with Brian Goldner, chairman and CEO of toymaker Hasbro (HAS) - Get Hasbro, Inc. Report , which just posted a 30-cents-a-share earnings miss on a 7% decline in revenues as the company continues to digest the bankruptcy of Toys R' Us.

Goldner said that 2019 will see Hasbro's return to growth as they move past Toys R' Us. He noted that inventory levels in the U.S. are down 17% and in Europe they're off 20%, as retailers continue to operate at very lean levels.

When asked about China, Golder noted that 70% of their products are currently made in China, but that number will be less than 60% in two years. Play-Doh, for example, just resumed production in the U.S.

Hasbro also has exciting tie-ins with some of the most popular video game titles, including Overwatch and Fortnite. Goldner said soon gamers will be able to jump out of the game and play for real with various Hasbro brands.

Cramer said that Hasbro has been working its way through difficult times but still has a terrific outlook, unlike rival Mattel (MAT) - Get Mattel, Inc. Report , which seems to have real problems.

Some Selloffs Are Worse Than Others

Some selloffs stand out more than others, Cramer told viewers. That was certainly the case with VF Corp.  (VFC) - Get V.F. Corporation Report , the apparel maker that reported Friday, and saw its shares plummet 11%.

Cramer said on the surface, VF's earnings appeared just fine. Revenue was up 15% year-over-year, 6% organically, and the company raised its earnings estimates. Investors however, were looking for more. At issue were sales declines at Timberland, down 2%; Wrangler, down 5%; and and Lee, off 9%. But Cramer reminded viewers that VF is spinning off its denim business, including Lee and Wrangler, to focus on Vans, up 26%, and The North Face, up 5%.

As for Timberland, Cramer said the company has plans to expand into new categories and expects the brand to grow in the mid-single-digits going forward.

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In the end, Cramer said VF is a story about Vans, the company's sneaker brand that is rapidly becoming a sought-after lifestyle brand. Trading at just 19 times earnings, Cramer said VF Corp is a total bargain.

Off the Charts: IBM 

In the "Off The Charts" segment, Cramer checked in with colleague Larry Williams for a technical read on one of Willams's favorite stocks at the moment, IBM (IBM) - Get International Business Machines Corporation Report .

Williams looked at a weekly chart of Big Blue, noting that the stock has regular 145-day and 325-day patterns. When combined, these patterns indicate a rally ahead for the tech giant that was beaten down last week after disappointing earnings.

Williams noted the seasonal patterns in IBM also signal a rally. He noted that buying on the 19th day of October and holding for the next five days saw gains in 48 of the past 48 years.

Looking at a daily chart of IBM using his proprietary Williams COT indicator showed that since the decline, big institutional investors have been buying IBM, confirming that a bullish uptrend is likely next for this beaten down tech company. 

No-Huddle Offense 

In his "No-Huddle Offense" segment, Cramer cautioned that while the averages looked placid Monday, underneath there are real pockets of weakness. In fact, the best performing stocks were the ones you buy during a recession, including the utilities and discount retailers like Walmart (WMT) - Get Walmart Inc. Report and Dollar General (DG) - Get Dollar General Corporation Report .

The home builders and anything linked to residential construction continue to fall, and fall hard, Cramer said, while the tech sector seemingly has too much stock and is overwhelming supply. The semiconductors are also just awful at the moment, leaving investors with few places to turn.

The trade war is no longer just a war, Cramer said, it's turning into an outright stoppage of trade with China, something that could be decidedly bad. On a positive note however, all the Fed needs to do is say they're reassessing on interest rates and the markets would rally big time. 

Over on Real Money, Cramer says we say breakdowns last week in too many groups. Get more of his insights with a free trial subscription to Real Money.

Lightning Round

In the Lightning Round, Cramer was bullish on Dropbox (DBX) - Get Dropbox, Inc. Class A Report , Jack Henry & Associates (JKHY) - Get Jack Henry & Associates, Inc. Report , Albemarle (ALB) - Get Albemarle Corporation Report , Cloudera (CLDR) - Get Cloudera, Inc. Report and Palo Alto Networks (PANW) - Get Palo Alto Networks, Inc. Report .

Cramer was bearish on The Trade Desk (TTD) - Get Trade Desk, Inc. Class A Report .

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At the time of publication, Cramer's Action Alerts PLUS had a position in WRK, AAPL, FB, AMZN, GOOGL, PANW.