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Why Jim Cramer Doesn't Think Now Is the Time to Pick Stocks

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There are a ton of earnings being released this week. 

We'll hear from companies such as Tesla (TSLA) - Get Report, Western Digital (WDC) - Get Report, Microsoft (MSFT) - Get Report, MasterCard (MA) - Get Report, Facebook  (FB) - Get Facebook, Inc. Class A Report, etc. 

Jim Cramer took a step back and weighed in on earnings season so far and why he's not being turned into a stock picker, even with the market sinking.

"No. I'll tell you why. This weekend I probably read 10 conference calls and I was acutely conscious of the fact that, had I known about the conference calls, I might've been [differently] oriented," said Cramer. 

"So I mean, I'd want to be very careful. Even if you read everything like I read Procter this weekend, I hadn't read Procter [& Gamble  (PG) - Get Procter & Gamble Company Report] before. I read the schematic of it but hadn't read it. And Proctor was really fabulous. I went back to look at Procter in the last five years. This was the best Procter quarter," he continued.  

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