Cramer was bearish on Facebook ( FB), Google ( GOOG) and Caesars Entertainment ( CZR).
No Huddle Offense
In his "No Huddle Offense" segment, Cramer taught his audience how to use a market selloff rather than letting a selloff use them. He used Whole Foods Markets ( WFM) as his example. Cramer said that Whole Foods remains a great growth story and just delivered a solid 8.3% increase in same-store sales when it last reported. But at 31 times earnings, the stock is pricey, said Cramer, and with huge gains for the year, Whole Foods is seeing tax selling ahead of the fiscal cliff. This selling can be viewed as a gift, however, if investors plan ahead and determine what a good price would be for a 15% grower that plans on earning $3 a share in earnings next year. If the market feels 31 times earnings is too steep, what about 25 times earnings? That would put shares at $75, a price Cramer said would be appealing to him. At 22 times earnings, he would be even more aggressive. Cramer said the key to a selloff is not to be caught off guard, but rather to plan ahead. With his new game plan, he can now wait for Whole Foods shares to come down to a price he's willing to pay, rather than panicking that they're falling uncontrollably. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC