TheStreet's Jim Cramer says markets appear to be brushing-off weak PMI data from China because expectations were already low. Macau gambling revenue is up 13% for March, and Cramer believes this is because industrials in China are slowing down and individual consumption is gaining speed. Cramer says this is good news for companies that sell into China, but hasn't yet translated to better numbers for Action Alerts PLUS holding Proctor & Gamble. Cramer is also keeping a close eye on Coach and Nike.

At the time of publication, Cramer was long ___.

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