There are plenty of reasons to hate his market. But there are also some reasons to love it.
And one of those reasons is the renaissance in domestic energy and the resulting opportunities it presents for anyone with a long-term time horizon.
"Right now everybody's freaking out because the Fed could taper its bond buying program as soon as the end of the year. But freaking out is shortsighted," said Cramer.
"If the Fed is about to taper, it's because the central bank doesn't believe our economy needs the support anymore, and when that happens the cyclical companies that do better when the economy improves are going to roar," Cramer said.
Therefore, rather than run for the exits, Cramer thinks it's prudent to identify themes for the long-term. And in the first installment of Mad Money's week long 'Invest in America' series about companies and themes that could drive the next leg of our nation's prosperity, Cramer turned his attention to all the new found energy deposits recently discovered across our nation.
"We're constantly talking about the huge oil and gas discoveries that will be game-changers for our economy, but right now, I just want to look at the oil side of the equation. The U.S. Energy Information Agency says that we now have 40 years worth of drilling in our major oil basins, with greater visibility than at any other time in the last four decades," Cramer said.
So who benefits directly from all of this newfound domestic oil?
With the industry now facing enough drilling to last for two generations, the Mad Money host suggests putting Halliburton on your radar. "HAL has the most North American exposure of any oil service play, coming in at 56% of the company's revenues," Cramer said.
Then, Cramer said, once oil gets out of the ground it needs to be piped to refineries. "That's where Kinder Morgan Energy Partners comes in," he said. "It's the largest pipeline player in the United States, with a diversified line of businesses that are operated like gigantic toll roads and a fabulous management team led by the great Rich Kinder."
And Cramer added that the renaissance is largely being driven by new technology that allows oil to be extracted from non-traditional sources. "And nobody does that technology better than Core Labs," Cramer said. "Core is all about using its advanced technology to help oil and gas companies figure out where to drill, and how to squeeze the most oil out of existing reservoirs."
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Also Cramer thinks the energy revolution has advanced so rapidly that the existing infrastructure can't handle it. "Therefore companies are finding all sorts of other ways to transport the stuff, by barge, by truck, and mainly, by rail. I like the rails here. And in particular, I like Union Pacific," Cramer said. "Last quarter, Union Pacific's oil volumes rose 11% sequentially and doubled year over year, as the company's shipping oil from the Bakken shale, from Western Oklahoma and West Texas down to the refineries on the Gulf Coast."
Now that's not to say all of these stocks won't sell off with the broader market. However, if you're in the market for the long haul, Cramer thinks any or all of the names listed above belong on a shopping list.
Ultimately, Cramer is a buyer, though in the current market, he advocates buying strategically.
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