Jim Cramer's got an antidote to the tech blues: drug, industrial and bank stocks. "If those areas are so easy right now," Cramer asked on TheStreet.com TV's Wall Street Confidential video Friday, "why take on something tech that's so hard?"

Case in point: Although IBM ( IBM) had one of the best quarters Cramer said he's seen in years, analysts were quick to run from it as soon as the stock was down.

"This is a very bad time to own tech," he reiterated to Aaron Task, the host of Wall Street Confidential. It has nothing to do with these companies' earnings. "What you're really seeing is seasonality in play."

Market players think they can get out of these stocks now and get back in later at lower prices, which is "smart, right and what people should be doing," Cramer said.

He does, however, believe people can own tech stocks that are driven by their product cycles such as Cisco ( CSCO) and Hewlett-Packard ( HPQ), which he owns for his charitable trust, Action Alerts PLUS.

And while Cramer also believes tech should outperform this year, he feels investors should stay away from those tech stocks that are at the mercy of the market and have nothing new from a product standpoint. It's too hard to own them, he said, advising people to capture the gains in such stocks as Texas Instruments ( TXN), Rackable ( RACK) and Network Appliance ( NTAP).

Away from tech, Cramer said to keep an eye on Caterpillar ( CAT) as a tell on where this market is headed. Cat, stuck at $60 and "outrageously difficult" to decipher, is the key to the market. Whichever way the stock goes, Cramer said he will have greater certainty of where the market will go.

"If it goes against me, it will go down and I will reconfigure my thesis," he said. "But I think we are going to see it start to climb."

People should also focus on looking at what's going to happen six months from now, because you can't make any money with what is happening now, he said. "We are not in a world where it helps you to know what IBM did yesterday," Cramer said.

Journalists only look at one side of the equation, so if there's strong growth in employment or decent pricing power, they presume the Fed doesn't need to do anything and will hold off on cutting or raising the rates, he said. But this is not true, Cramer insisted.

"The Fed's job is to stimulate growth when there's not a lot of growth and not a lot of inflation," he said. "We don't have a lot of inflation and people are not looking at that at all."

For example, despite reporting a "horrible" quarter, Pulte Homes ( PHM) is up today, Cramer pointed out. This is not because the market is stupid, but because the Fed is going to cut rates, he said.

"Of course I could be wrong," Cramer admitted. "But in the end, I'm making a bet."

He said he doesn't fear being wrong because when all is said and done, if he's a little bit more right than he is wrong, he knows he's going to make "big money."

Cramer called the May rate hike a "big mistake," and said if the Fed doesn't cut this time around, "the market will be caught leaning the wrong way again."

At the time of publication, Cramer was long Hewlett-Packard.

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 Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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