NEW YORK (TheStreet) -- TheStreet's Jim Cramer says the crisis in Ukraine and the specter of China are the two biggest issues confounding investors at the moment. These two negative stories likely will not reach a conclusion this weekend, so many investors are pulling back.
Cramer, though, likes that the market has become oversold and that domestic stocks unaffected by these two stories are trying to stabilize. He points out that this market does not have a lot of news, much less good news, to increase stock prices. At this point, the goal is to limit the decrease in stock prices. Cramer wants catalysts, but none are coming in the next few weeks.
He suggests taking advantage of a dip in the biotech company Celgene (CELG) on the news that one of its drugs was just rejected.
Cramer notes large dislocations and accidentally higher dividends should promote buying. Otherwise, it is too late to sell many stocks.
Separately, TheStreet Ratings team rates CELGENE CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CELGENE CORP (CELG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."