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Jim Cramer: Panic Never Made Anyone Money

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Jim Cramer's got some advice for investors who are still feeling panicky after yesterday's sell-off.

"Panic never made anybody any money, okay? It never made a profit for anyone. So at this point, if you've done no sales, you're getting a little bit of lift in the market," said Cramer. "So maybe you can go back and look at some of the things we sold just to be sure that you have some cash in case we needed it. If things break down at 12:01 now I'm beginning to think that there's probably a third way between the 20% 25% tariffs immediate at 12:01."

"There's a third road that might be taken, which is, look, we're going to gradually put them in place because we accept that there was some good faith, but you have to know from the people I talked to are negotiating [that] there was a 100 page document and they reneged--[the] Chinese reneging and about 50% of it," said Cramer. "And so it wasn't like our side suddenly got more belligerent. It was their side walking away from a deal that they agreed to no wonder we got angry, I would to. Imagine buying a house and right before the closing, but when you have agreed, you said, look, you know what, I'm paying half for the house. Well we would all feel that rage. We would tell you get out of our office. That's kind of what happened."

Related. We Have to Separate Bluster From Reality on China

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