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Cramer: After 9 Up Days, Now What?

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Not since 1996 has the Dow Jones Industrial Average closed higher for 9 consecutive days. What on earth should you do with stocks, now?

Jim Cramer understands the conundrum. And in this stock market, Cramer believes that best way to navigate is to dig into the thick of things.

Looking at the long-term catalysts the Mad Money host remains convinced the fundamentals of the market remain strong.

"Retail sales on Wednesday morning were terrific," said Cramer. And in our consumer driven economy, that's a very positive sign.

Also, "stocks remain relatively cheap," Cramer added. "The buybacks and the dividend boosts and the takeovers say to me that valuations are deliciously low."

In addition, interest rates are at historic lows, the housing market shows continued signs of improvement and it appears the economy is starting to create jobs.

All told, strong fundamentals such as these suggest to Cramer that the market continues its advance.

However, a sustained advance doesn't mean the market can't pull back in the near-term. And unless we're at a very rare moment in history – Cramer thinks a sell-off is imminent.

The Dow hasn't closed higher for 10 consecutive sessions for at least 15 years.

Cramer believes some stocks vulnerable.


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"I continue to tell you that the stocks at their all-time highs, particularly the soft goods stocks like Procter & Gamble and Kellogg are now acting toppy and are point blank too high."

However, if you dig down Cramer thinks you can also find opportunity. The Mad Money suggests identifying stocks that have not fully participated in the rally but still might.

"Technology and finance as well as the industrials and the oils are so far off their long-term highs and so cheap historically, they can be bought."

But that doesn't mean buy with abandon. Instead, Cramer says make your move during pullbacks or intra-day dips.

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Read More from Mad Money with Jim Cramer
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And that doesn't mean Cramer is bearish – he's not. He just thinks the market may be a little frothy at this moment in time.

Big picture - Cramer remains a strategic buyer.

"Since 1950 there have been only 12 other times when the Dow was up more than 8% in the first quarter," he explained. "10 of the last 12 times the Dow managed to post double digit gains for the year."

"I like those odds," Cramer said.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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