Jim Cramer on J.C. Penney, Micron and Container Store

TheStreet's Jim Cramer says the lack of good news is the reason for the dip in J.C. Penney stock. In a recent memo Starbucks CEO Howard Schultz warned against mall-based retailers suffering from declining traffic during the holiday season. Cramer thinks that Micron can go higher despite trading around $5 just 14 months ago. Micron's acquisition of Japanese DRAM company Elpida and higher prices will cause the stock to pop if it keeps supply low. Finally, Jim thinks The Container Store IPO was hyped and while the company hasn't peaked yet, its weak earnings show the company is 'wildly overvalued.'

At the time of publication, Cramer was long ___.