NEW YORK (TheStreet) -- The stock market has rallied strongly after last week's disaster, and TheStreet's Jim Cramer says it's now about waiting.

Cramer says when you have a rally like this, you're really chasing if you come in now. He says some people might complain that he's keeping them out of the rally, but he explains that investors must wait for consolidation with a rally this big.

Cramer says he often hears neophytes in the business say they want to get in during the rally, but he explains that the time to get in was last week when people were panicking and analysts and experts were saying the decline wasn't that bad.

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So Cramer says now investors have to pay the price of waiting for the market to come down and if it doesn't, then you've simply missed your chance.

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STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.