Skip to main content TV Recap: Strength's a Sale Here

Cramer expects the market to stay choppy until May's Fed meeting.

"Strength must be sold here, not held," Jim Cramer said on TV's Wall St. Confidential

Web video Thursday.

"This is a glass-half-empty market now," he told George Moriarty, executive editor at

and guest host of Wall St. Confidential. "The times we have run into earnings season have almost always produced choppy to bad markets."

The companies that are doing the best here, said Cramer, are the "recession" companies. He said the market should stay "choppy" through the May

Federal Reserve

meeting, and then he believes there will be a "nice" rally. "I think it's hard to stay the course through this period, though," Cramer said.

Getting into some of the retailers, Cramer said he's been saying

J.C. Penney's

(JCP) - Get J. C. Penney Company, Inc. Report

CEO Myron Ullman deserves the benefit of the doubt.

However, people have been reluctant to give that to him on Wall Street. This is a "regional issue" that Cramer said he's seen with other retailers like


(KSS) - Get Kohl's Corporation Report

. The money men on Wall Street don't shop at J.C. Penney or Kohl's, so they don't realize how good the stores are, he said.

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On the other hand,


(WMT) - Get Walmart Inc. Report

is "way too loved," Cramer said. He believes the stock is "trapped" between $45 and $50, the opposite of Kohl's and J.C. Penney.

Further, "people are perennially missing the greatness of


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, which is the excitement factor," Cramer said.


requires a merchandise eye, you need an eye, and Wal-Mart has no eye," he said. "They have no look and feel for what's good. J.C. Penney has it now, if people were to go, and Target's just a fun place to shop."

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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