"You get a market bottom when earnings estimates are beaten," said Jim Cramer on Tuesday's "Stop Trading!" segment on CNBC. "Remember that for the last year, earnings estimates were always too high."

This earnings season, more companies have been beating estimates than not. "This is an extraordinary time," said Cramer. "The analysts are just so negative, and we're getting number bumps, and people getting excited about stocks like Under Armour ( UA)."

He said that Under Armour delivered a good quarter, and expectations were very low.

"We are seeing economically sensitive stocks," Cramer said. "No one wants Bristol-Myers ( BMY), no one. Contrast that with Fortune Brands ( FO)."
At the time of publication, Cramer had no positions in stocks mentioned.

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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