Publish date: TV Recap: Play It Safe

With the blowup in Asia, it's time to kick back with Coke and Pepsi and other 'soft goods' stocks.

"Money is not coming out of the market," it's just being rotated, Jim Cramer said on TV's Wall Street Confidential

Webcast Tuesday.

Money is shifting from the emerging markets to the


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(PEP) - Get PepsiCo, Inc. Report

, 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

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, which "has been biding time"; or


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, 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


(CSCO) - Get Cisco Systems, Inc. Report

at $25 and


(MSFT) - Get Microsoft Corporation (MSFT) Report

at $27 are "real good," tech in general is "wrong" and will not be good until the summer, he said.

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, which Cramer owns for his charitable trust, is up because

Legg Mason

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is buying it, he said.


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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



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General Mills

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and Pepsi moves up, he said.

At the time of publication, Cramer was long Yahoo!.

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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