Jim Cramer watched as the averages plunged on Monday, yet again. To him it is almost as if everything that investors once liked they now hate, and everything they once hated they kinda-sort like. Not any more than that, this is why the market keeps getting hammered.

That is why the "Mad Money" host took the time to explain how and why things are hated, especially the groups that used to be liked.

The first hate group is commodity risk. China is not just slowing these days; its industrial demand appears to be exhausted. That means anything that helps to extract or produce commodities are performing terribly.

Within that commodity risk umbrella are those companies linked to iron ore, especially one of the lowest cost producers in the world, Brazilian mining company Vale. On Monday it closed at $4, which is far from its $36 price just four years ago. This makes sense to Cramer as the price of iron ore has been cut in half in the past year.

Another commodity risk is copper, as the biggest copper producer in the U.S. is Freeport McMoRan and has been ailing, and has been on the radar of investors such as Carl Icahn, who recently purchased 100 million shares. Yet considering that China is a marginal buyer of copper, and uses 40 percent of it, Cramer finds it unlikely that Freeport will turn itself around.

The second hated group on Wall Street is anything oil and gas, which is hated furiously right now. The dislike extends to every part of the oil complex. This includes independent oil and gas companies, big oil companies, service companies, master limited partnerships and pipelines. There is no escaping!

The absolute worst by far is Petrobras, and Cramer is concerned with it because it is such a disaster. It has $170 billion in debt, which will be extremely difficult to pay as the Brazilian real weakens against the dollar.

"Once again I cannot stress enough that Petrobras and Glencore are two of my three biggest worries about this market, with the third being Volkswagen and its conceivable rigging of the diesel emissions tests. All three could have unfathomable downside," Cramer said.

The third group was once loved, and is now loathed: biotech. For the longest time, Wall Street favored this group because it appeared to be sheltered from foreign disasters and it had pricing power. The first is still true, but now that pricing power is being called into question.

The fourth group is the companies that need a ready source of cheap debt to group. Many of these companies are referred to as roll-ups. This refers to businesses that make acquisitions using cheap debt, which was cheap partially because the Federal Reserve has kept rates low.

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"I'm not going to blame the Fed for this denouement, though. Some of these roll-ups just spent too much money and did too many deals and now they cannot raise the capital needed to keep growing," Cramer said.

The last group that is disliked is the companies that don't have actual earnings. Companies like Workday, Splunk or FireEye are now being frowned upon. Investors are fleeing out of these growth stocks and into companies like General Mills.

These five groups of stocks were all once loved, and are now hated in the Wall Street fashion show right now.

"Five worries that cause endless problems, like today's brutal tape, and that won't resolve themselves until we get lower prices, or solutions or both," Cramer added.

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