Markets are down once again, but Jim Cramer said that's your moment to do some buying. "You've got to buy something, that's just the rule," Cramer said, referring to the 10 to 1 rule.
Echoing his late mentor Mark Haines, Cramer said that when 10 stocks are down to one up, "it doesn't matter what you think, you have have to buy."
Stocks continued to fall for the third straight day as prospects for stimulus ahead of the upcoming presidential election continued to fade and coronavirus cases continued to surge in Europe as France and the U.K. prepare further restrictions.
The Dow Jones Industrial Average dropped 161 points, or 0.57%, to 28,352, the S&P 500 fell 0.87% and the Nasdaq declined 1.32% as of early trading Thursday.
Markets also weighed higher than expected weekly jobless numbers as the number of people claiming unemployment benefits for the first time rose to 898,000. Analysts pulled by FactSet had expected 825,000 first time claims.
Despite rising negative market sentiment, Cramer maintained that today is a day to buy. "I'm going to put it in the camp that you just have to buy something."
But where should you be putting your cash? Find out which name Cramer could be targeting next in the video above.
Now here's what Cramer is watching heading into next week: