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Does stock slump worry Cramer?

(Click for video linked to a searchable transcript of this Mad Money segment)

The market sold-off for a second day on Wednesday with the Dow Jones Industrial Average dropping triple digits and S&P 500 seeing its biggest loss in nearly 5 weeks.

And the selling accelerated into the final hour of trade.

Weakness hit the market despite reports that both Republicans and Democrats may have found common ground on a budget deal that would divert a second government shutdown.

That kind of development should be bullish for stocks yet negative momentum prevailed with all three major indexes closing in the red.

That's a problem, isn't it?

Jim Cramer doesn't think so.

Mad Money
Adam Jeffery | CNBC

First, Cramer believes the sell-off was largely due to end of year profit taking as well as a kind of ennui about anything Washington related. "Also, rumors have been circulating on Wall Street about a deal for quite some time," said the money pro. "The announcement was anti-climactic and baked into the market."

However, the big reason Cramer isn't worried is because the current sell-off hasn't been terribly steep. In fact, most sell-offs over the second half of 2013 have not been steep at all.

"We haven't had a one percent correction since the early spring," Cramer said. "We haven't had a ten percent correction in two years."

"I'm eager for a larger decline. I await it and I want it," Cramer added. "I'd like to step in and buy."

Unfortunately, for a fundamental investor such as Cramer, the declines haven't been steep enough. They haven't driven his desired stocks to levels he finds sufficiently inexpensive. "All I can do is make a shopping list and wait."

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But fear the decline, not Cramer. He believes trends such as the energy renaissance in North America, and the return to profitability for banks remain squarely intact.

And just as these catalysts drove stocks to all time highs in 2013, Cramer believes they will again drive a further advance in 2014.

Therefore, if anything declines should be embraced. "That's how I view declines right now," Cramer said. "And quite frankly, I wouldn't mind seeing the market fall a little more."

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