TheStreet.com TV Recap: Strength's a Sale Here

Cramer expects the market to stay choppy until May's Fed meeting.
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"Strength must be sold here, not held," Jim Cramer said on TheStreet.com TV's Wall St. Confidential

Web video Thursday.

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

TheStreet.com

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 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

Kohl's

(KSS) - Get 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.

On the other hand,

Wal-Mart

(WMT) - Get 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

Target

(TGT) - Get Report

, which is the excitement factor," Cramer said.

"Retail

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."

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