On Tuesday's "Mad Money" show, Jim Cramer encouraged viewers not to panic or lose their cool in this market.

He said he stills see strength in stocks such as Goldman Sachs ( GS) and JPMorgan Chase ( JPM), both of which he owns for his Action Alerts PLUS charitable trust, as well as in Bank of America ( BAC).

On Wednesday, Goldman Sachs added 13 cents to close at $120.49, JPMorgan lost 63 cents, or 1.9%, to $31.90, and Bank of America closed down 50 cents, or 5.7%, at $8.26.

He said he recently bought more Caterpillar ( CAT) for Action Alerts PLUS based on its strength in China and march sales number.

Caterpillar added $1.06, or 3.4%, at $32.45 on Wednesday.

Cramer said that Halliburton ( HAL) deserved its recent downgrade from JPMorgan because its "fundamentals are still deteriorating."

On Wednesday, Halliburton closed down 9 cents to $19.87.

As for Coca-Cola ( KO), which colleague Rick Bensignor likes, Cramer still prefers Action Alerts PLUS stock Pepsi ( PEP) because it has less international exposure and thus more to gain as the U.S. market recovers.

Coca-Cola lost 16 cents to close at $42.93 on Wednesday, while Pepsi was down $1.37, or 2.8%, at $47.98.

Cramer spoke with Consolidated Edison ( ED) CEO Kevin Burke, who said that New York sales are doing well and that the company has a small carbon footprint. Cramer said that he liked ConEd for it dividend and its forward-thinking.

ConEd closed down 69 cents, or 1.8%, at $37.58 on Wednesday.
At the time of publication, Cramer was long Pepsi, Goldman Sachs, JPMorgan and Caterpillar.

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. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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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