Cramer: Big $$ craving this earnings season group

Jim Cramer knew it would only be a matter of time before investors got so fed up with Europe and craved some good old-fashioned American stocks. And that was exactly what happened Tuesday, as the averages managed to bounce back from a total free fall in the morning.

The CNBC "Mad Money" host is watching Europe, not just Greece, because the issue has held all of Europe hostage. In Cramer's perspective, the Greeks borrowed too much and the Europeans, mainly Germany, lent too much.

The Germans could end this drama right now if they just booted Greece from the euro, but they insist on dragging things out. Cramer wonders if it is a deliberate procrastination at this point, which keeps dragging down the euro and helps German exporters.

"Look, I am adamant that until this Greek issue is resolved we're going to be in the soup, and every rally will be suspect," Cramer said. (Tweet This)




Customers enter a Chipotle restaurant in New York
Scott Mlyn | CNBC
Customers enter a Chipotle restaurant in New York
"I am adamant that until this Greek issue is resolved we're going to be in the soup, and every rally will be suspect" -Jim Cramer

Cramer believes that any sort of deal at this point will cause the markets to rally. He is confident that it would be best for Greece if it just defaulted, took their drachmas and went home instead of sticking with the euro and being the poor kid among a bunch of richer nations. Any resolution would be good.

However on Tuesday Cramer saw many betting that with a strong dollar in place for earnings season, huge estimate cuts will happen for all companies with international exposure, and U.S. operating companies will have decent strength.

"But they won't be downgrading the domestics. They will be raising numbers and upgrading them," Cramer said. (Tweet This)

In fact, Cramer suspects that many money managers have started to prepare for earnings season by rotating out of the international stocks and into the domestic stocks.

How could he tell? Just take a look at the retailers and restaurant stocks.

Even as the market was in a free fall, stocks like Costco roared right from the opening bell. The same rally occurred with names such as Kroger, Home Depot, Lowes and drugstore stocks. Heck, even Wal-Mart seems to have found a bottom! The same goes for restaurants as Chipotle, Jack in the Box and Sonic all had money flowing into them.

String beans growing in Jim Cramer's garden.
Jim Cramer | CNBC
String beans growing in Jim Cramer's garden.
"Nothing grows to the sky except perhaps my string beans. Let the sellers prune them for a couple of days. They'll do just fine" -Jim Cramer

So what do these stocks all have in common? Gasoline. The price of it is plummeting again with a sharp drop in crude, and that pushes the buyers into these companies that benefit from lower gasoline prices.

Big money was also excited in the insane decline of interest rates, so housing stocks are on the move as well. And of course, the utilities and REITs rallied from the lower interest rate competition from Treasurys.

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It's almost as if the entire market reverted back to the pattern that was in place earlier in the year. Even the once-loved cult stocks like Tesla and Shake Shack took a beating from analysts on Tuesday.

"I say take those moves with a grain of salt. The specs got too hot. It happens. Nothing grows to the sky except perhaps my string beans. Let the sellers prune them for a couple of days. They'll do just fine," Cramer added. (Tweet This)

Essentially the combination of lower oil, lower rates, a strong dollar and revulsion of all things Europe created the comeback on Tuesday. And while Cramer loves the rotation, this change just serves as a reminder that the next time the market is hit hard, the buyers will come back.

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