Cramer’s Top 5 Reasons Not to Sell Everything Now

After global stocks fell for a seventh day on Thursday on fears of the looming "fiscal cliff," Jim Cramer can understand why investors might be tempted to get out of the market altogether, but offered his top five reasons not to sell everything.

First, the "Mad Money" host thinks the market is oversold.

"We all accept that we're going down and many are taking action," Cramer said. "People get this negative, you tend to get a bounce, even if it just takes you to a better place to sell."

Second, Cramer acknowledged that some stocks will be impacted when the U.S. goes over the "fiscal cliff" — a series of enacted legislation, which, if left unchanged, will result in tax increases and budget cuts come January 1. Other stocks, however, aren't likely to be impacted in quite the same way, he said.

(Read More: US Nears Fiscal Disaster: 'Washington Doing Nothing')

"International stocks with bases here that sell soft goods that are consumers of commodities will do well and they need to be bought into the weakness," he added.

Third, Cramer said as stocks continue to sell off, everything gets discounted. In turn, investors will eventually adjust to these new prices and so new negatives simply won't mean as much, he said. A new positive, especially a deal to avert the "fiscal cliff," though, will "send us soaring."

Fourth, Cramer argued that going off the cliff might not be that bad after all.

"The new taxes and spending cuts, while draconian, will not be the end of the world for the big secular growth stories out there, including health and wellness as well as the desire for a bargain," he explained.

(Read More: Geithner Warns Against Delaying Solution to US Fiscal Crisis)

Fifth, many companies have the ability to raise their dividends to where such high-yielding stock would still beat the payout on Treasury bonds.

"History says that to be solely destructive is to miss an important move in the market, although we don't know where that move might begin from," Cramer said, adding that no one can be sure when the bottom will form or if a deal on the "fiscal cliff" will be reached in time, but one thing is certain — "being constructive is actually being rigorous."

—Reuters contributed to this report