"Money is not coming out of the market," it's just being rotated, Jim Cramer said on TheStreet.com TV's Wall Street Confidential
Money is shifting from the emerging markets to the
, he told Gregg Greenberg, the host of Wall Street Confidential.
People just want to be on whatever table is hot, Cramer said. Recently, the Chinese and Brazilian tables have been hot, "but most people don't know anything about these companies or these countries," Cramer continued. "It's unnerving to see how much China can unwind."
People believed these stocks would ramp after the Chinese New Year, but they didn't, he said.
"If you own any China, even though it is down really huge, it is not too late to sell," Cramer stressed. "I would sell anything Chinese today."
What's happening, he said, "is a thesis that we're going to go from 4% to 1% GDP and subprime buttresses that thesis." Therefore, market-players should buy Coke, which was just upgraded by three analysts; Pepsi, which had a good quarter;
Procter & Gamble
, which "has been biding time"; or
, which just boosted its dividend, Cramer said.
People need to understand this is not the end of the market, but another shift of the bull market to the Cokes and the Pepsis, he said.
Regarding tech, Cramer believes it's "no good." While
at $25 and
at $27 are "real good," tech in general is "wrong" and will not be good until the summer, he said.
, which Cramer owns for his charitable trust, is up because
is buying it, he said.
is going to be up because it is buying back more stock than Cramer said he's seen, other than
, "which is also going to be up."
If people don't like the market, they should sell it, and if they do like the market, they should buy the soft goods stocks, Cramer said. But investors should not be scared, otherwise they're going to miss the
and Pepsi moves up, he said.
At the time of publication, Cramer was long Yahoo!.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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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