Updated from 6:58 a.m. EDT

Jim Cramer has been advocating that now is the time to be defensive in the stock market. He says an economic slowdown is becoming a reality, and he even went so far as to tell average investors to pull their money out of the market if they need the cash in the next five years.

Cramer has been recommending that investors look to play high-dividend-paying stocks, companies that do well in times of recession and firms with solid management and lots of cash on the balance sheet.

Cramer is no rookie on Wall Street. He has been battle-tested from years of a running a successful hedge fund. He knows exactly which kinds of stocks will work during tough economic times. He understands that winning the battle on Wall Street is all about knowing ahead of time where a trend will develop.

Recently, Cramer found opportunity in high-yielding dividend stocks, such as Nucor ( NUE); natural gas stocks, incdluing Devon ( DVN); and stocks that benefit from a strong dollar, such as Unilever ( UN). Here are some Cramer highlights from over the past week as aggregated from his "Mad Money" TV show, the "Stop Trading!" segment on CNBC and his RealMoney blog posts (these blog post links require a RealMoney subscription).

To read more, visit Stockpickr.com.

(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned Altria, National Oilwell Varco and Unilever for his Action Alerts PLUS charitable trust.)
At the time of publication, Altucher and/or his fund was long Eaton, although positions may change at any time.

James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the Financial Times and the author of Trade Like a Hedge Fund, Trade Like Warren Buffett and SuperCa$h. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email.

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