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Boeing flying into strong headwinds?

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

Over the past month Boeing shareholders have encountered more than their fair share of unexpected turbulence.

But is the turbulence a sign to disembark from the stock?

At best, developments were problematic for the company. "There were reports of an inventory glut of Dreamliners," Cramer said . Then, "Shareholders got hit with cracks."

Specifically, Boeing said on Friday that "hairline cracks" had been discovered in the wings of about 40, 787 Dreamliners that were in production.

"Finally, there's the possibility that mechanical problems led to the mysterious disappearance of the Malaysia Airlines Boeing 777."

That a lot of negative catalysts, and the confluence sent some investors running for the exits. Shares of Boeing are down about 4% in only that last 5 days and year to date, the stock is negative by about 10%.

Boeing 787 Dreamliner
Source: Boeing Co.
Boeing 787 Dreamliner

Although the headwinds may be forceful, Cramer doesn't think it's anything Boeing's CEO can't navigate.

"First I highly question if there is a real inventory glut because CEO Jim McNerney said on Mad Money that the order book is many years long because the plane reduces fuel costs dramatically for airlines."

"Second I am sure the wing cracks are a solvable problem for someone as capable as McNerney. And finally the Malaysian issue is 100% speculation."

Therefore Jim Cramer thinks the declines present opportunity .

"This weakness in Boeing is exactly what I tell you to watch for," Cramer noted.

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That is, fundamental catalysts remain intact with the near-term issues likely scaled by the Boeing management team. "I think this is an opportunity to buy Boeing stock at a lower price then you'd otherwise be able to get in the normal course of business."

"Boeing is a great American company, and increased demand for new aircraft reamins one of the great long-term themes of this market. "With Jim McNerney at the helm I'm a buyer."

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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