Cramer: As stocks slide, should strategy shift?

More than a few bulls spent the session battling an upset stomach as stocks tumbled for the third time in three days.

Losses were broad, with consumer staples leading all 10 primary S&P 500 sectors lower for the day.

Weakness was also prevalent overseas, with new data showing a contraction in France's business activity as well as slower growth in Germany's manufacturing output.

Given the circumstances, Cramer says it's only logical to question whether your stocks have topped out for the year. "I wouldn't blame a soul for taking money off the table," he said. "To give back gains, especially if you are beating the market is about as stupid as it gets."




Jim Cramer on Mad Money.
Adam Jeffery | CNBC
Jim Cramer on Mad Money.

Looking out to the horizon, Cramer says there are plenty of causes for concern including airstrikes in Syria, ongoing tensions between Russia and Ukraine, and a weakness in Europe, which Cramer added could impact China, with the nation sending about 25 percent of its exports to the continent.

Also Cramer noted the US Treasury is making moves against tax-avoidance mergers, something that fueled gains in recent months.

It would seem that the market is facing some serious headwinds.

But, should you change strategy?

Although Cramer thinks these events must be monitored closely, and should they worsen, then he thinks they could take down stocks, he's not yet ready to throw in the towel.

"Inflation is coming down noticeably," Cramer said, "thereby increasing purchasing power. Also, domestic manufacturing is doing better and bank lending rules are getting easier."

On top of that, Cramer said that Russia, perhaps the worst headwind, could still be resolved diplomatically.

And there's always the chance that some unexpected event could happen that's actually bullish.

All told, Cramer just can't get too negative. Long-term, he says, stay the course. "Don't panic out of the market. And don't by any means feel that the world is coming to an end."

Ultimately, Cramer believes tensions between Russia and Ukraine will be resolved as well as many of the other risks threatening the market.

"We may be facing a weak earnings season but ultimately I'd look at ways in which I could put money to work," Cramer said. "So many times I say, I'd buy that stock on a pullback. This may be that pullback."

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"I think there are still opportunities being created in the market." If you're shrewd and put money to work in the stocks of good companies, with impressive management teams, promising prospects and solid financials, "even if you take some pain now, I think you get some gain later," Cramer said.

Call Cramer: 1-800-743-CNBC

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