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NEW YORK (TheStreet) -- The sky is falling! Sell everything!
That's what the markets would have you believe, Jim Cramer said on "Mad Money" Monday. He said the crisis in Ukraine is just another in a long list of foreign crises that have the markets operating on emotion instead of logic.
Cramer explained that every time a crisis breaks out the algorithms rule, and that means the S&P 500 futures get hit hard, taking the broader markets with it. More seasoned investors may recall that the 1998 Russian crisis took a toll on the markets. Today, Cramer said, there simply aren't the same linkages putting the U.S. markets at risk.
Just like previous crises in Egypt, North Korea, Cyprus, Turkey and Greece, the markets are likely to follow the same pattern. The selling begins on day one and continues throughout day two as the media turns to 24/7 coverage of the event. Beginning on day three, the smart investors begin nibbling at the stocks hardest hit. Day four, in this case, will likely be down again as investors worry about the non-farm payroll numbers on Friday.
By day five, which will be Friday, the markets will likely react to the non-farm payroll report, but then be a coiled spring, ready to snap high going into next week, Cramer said.
What to Do With Baidu
What should investors looking for growth in China do with shares of Baidu.com (BIDU)? The answer may not be clear given that the stock received a downgrade and a price target cut from one analyst, only to receive an estimate increase from another later in the day.
Cramer said when analysts disagree, investors win because they get to hear both sides of the argument. In the case of Baidu, which just reported a two-cents-a-share earnings beat on better-than-expected revenue with raised guidance, it's hard to believe that an analyst found something not to like. But one did.
In essence, the bear case isn't that Baidu isn't growing revenue, but the company will become less profitable going forward as it continues to make sizable investments in infrastructure and other areas to secure its dominant position.
But Cramer said big investments are exactly what he wants to see from growths stocks, and the bullish analyst agrees. With Baidu rapidly growing its mobile revenue from 10% just last year to over 20% today, Cramer said that investors looking for growth in China will find no better place to be.
Taking Your Vitamins
Back on Feb. 13, GNC reported disappointing earnings, missing expectations by 2 cents a share. That news took down shares of GNC, whose expectations were too high, but also sent shares of Vitamin Shoppe lower by 6% as collateral damage.
Fast forward just two weeks and Vitamin Shoppe beats by 1 cent on 17% higher revenue and a 4.6% rise in same-store sales. That news sent shares up a quick 8%, making back all of its prior losses.
But with the trade in Vitamin Shoppe now over, Cramer said he'd sell into strength and buy back, you guessed it, GNC. He said GNC offers more dependable growth, has 10% international exposure and trades at just 14 times earnings with a 17% growth rate.
What made GNC stumble in early February? Bad weather did take a toll, but so did the company's transition to a new loyalty program, two events that are now behind it. With shares of GNC off 13 points from their highs, Cramer said he's once again betting on GNC.
Executive Decision: Stanley Crooke
For his "Executive Decision" segment, Cramer spoke to Dr. Stanley Crooke, chairman and CEO of Isis Pharmaceuticals (ISIS), a stock that's up 307% since Cramer last checked in back in October 2012.
Crooke said it's going to be an exciting year for Isis because his company has a ton of new drugs currently in trials, with lots of news coming on all fronts throughout the year.
Crooke sees substantial market opportunities for many of the drugs currently in development, which include everything from cholesterol to spinal muscular atrophy to several treatments for diabetes.
Cramer agreed, saying that with so many drugs in development and so many milestones coming up soon, Isis remains one of his favorite drug discovery biotechs.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer opined on the rally in the oil patch, a well-deserved move to the upside that is finally upon us.
Cramer said the independent oil and gas producers have come roaring back to life, thanks in part to a terrible winter that has sent crude prices higher. With production and reserves also on the rise, it's no wonder stocks like EOG Resources (EOG) are now hitting all-time highs.
Whether or now the controversial Keystone XL pipeline gets built, Cramer said he'd use any weakness in these stocks to be a buyer.
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-- Written by Scott Rutt in Washington, D.C.
To email Scott about this article, click here: Scott Rutt