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The futures markets take down all stocks, whether they deserve it or not, Cramer explained, and when that happens investors need to be on the lookout for companies that are telling us they're doing just fine.
Case in point: Home Depot (HD) , a perennial Cramer fave. Shares of Home Depot fell for five straight days last month, from $126 to $111. Yet, during that time the company announced it's ramping up hiring for the spring garden season and for its online distribution centers. Fear kept many from buying on this low, Cramer said, but since then shares have only headed higher.
Then there's the case of Verizon (VZ) , which fell for three days from $47 to $44 a share in January. Cramer said while the headlines made Verizon's earnings seem so-so, the company's cash flow and customer churn was spectacular. With a yield three times that of treasuries, shares promptly rallied from $44 to $52 a share.
Finally, Cramer called out Caterpillar (CAT) -- yes, Caterpillar, that beleaguered equipment maker that beat expectations on Jan. 28, but saw its shares go nowhere. Caterpillar shares are tied to commodities, Cramer explained, so when commodities started rallying, smart investors should've seen Cat's move to $75 coming from a mile away.
Off the Charts
Everyone knows that streaming media like Netflix (NFLX) is killing the cable industry, right? Not so fast, Cramer told viewers, as he went "Off the Charts" with colleague Tim Collins over the chart of Time Warner Cable (TWC) .
Collins looked at a long-term monthly chart of Time Warner from 2012 through 2016 and noted the stock marching ever higher year after year. In fact, shares are now just off their all-time highs. The relative strength indicator and on-balance volume indicators were both also bullish and surprisingly stable.
Looking at a weekly chart, the bullish case continued, with the MACD turning bullish three weeks ago after a brief consolidation, and the Force Index, a measure of the strength of a given move, was also bullish.
Collins felt shares of Time Warner could hit $225, or a 16% gain, by the end of March. He would only be concerned if shares pulled back below their current floor of support at $190.