Jim Cramer attributed the dip in the stock market on Monday to investor surprise that President Donald Trump might actually carry out his "protectionist agenda".
"If you have any doubts that protectionism is the message, you clearly didn't watch Trump's talk to a whole bunch of CEOs about the need to buy American and hire American or face the consequences of major taxes," the "Mad Money" host said.
The one area investors can turn to right now are stocks in the Trump-free zone, Cramer said. Those are companies that do not need Trump, aren't on his bad side and can do well when the economy slows.
Trump-free stocks include FANG, Cramer's acronym for Facebook, Amazon, Netflix and Google, and now Alphabet. Semiconductor companies such as Skyworks Solutions and semiconductor equipment stocks like Nvidia and Lam Research also work. The last group were the cloud plays, like Adobe and Salesforce.
Ultimately, Cramer reminded investors to take Trump for his word and suggested that Trump-free stocks like technology or domestic stocks like Comcast could work in a portfolio.
Last month, Procter & Gamble was downgraded to a "sell" by two different firms, as the company is believed to be front in center in a host of challenges that will hit the market in 2017: The strong dollar, political turmoil, online disintermediation and scrutiny for its use of inorganic materials and preciously wasteful manufacturing processes.
With this many difficulties, Cramer was surprised when the company guided up to 2 to 3 percent organic growth from 2 percent, which implied that market share gains and innovation were strong. Additionally, on its conference call, Procter management responded to all of these issues.
"The total sum of the call was nothing short of a stinging rebuke to those who sold this stock to buy an industrial or go into cash to flee a feared Trump-led stock market Armageddon," Cramer said.
Looking back at the dismal retail holiday numbers, Cramer boiled it all down to the erosion of Target. The problem wasn't Macy's, it wasn't Kohl's or even J.C. Penney. It was Target.
"It is doing the best online of all the brick-and-mortar retailers. And this ugly quarter is what ultimately happens. That is a pretty grim fate for the group," he said.
Target found itself in one of the worst possible situations, Cramer said. Its online offerings were so good it was stealing traffic from its own bricks-and-mortar stores. The self-cannibalization of Target was the sorriest event of the entire retail debacle this holiday season.
Skyworks Solutions has made a comeback in 2017, with shares up 20 percent since the beginning of the year. The stock skyrocketed 13 percent in a single session on Friday after reporting a strong quarter.
Skyworks is a semiconductor company that makes chips that go into various technologies, including smartphones, GPS, wireless networking, medical applications and cars. Many investors associate it as the maker of power amplifiers for the iPhone.
Cramer spoke with Skyworks' CEO Liam Griffin, who outlined some of the reasons why he is bullish on the future of the company.
"Smartphones will continue to be a very important part of our strategic landscape but in parallel, we have this IOT dynamic, this internet of things where the connection that brings these things to the internet is vital to Skyworks. That is a billion unit opportunity and growing over the next five to 10 years," Griffin said.
Frits van Paasschen has had a storied career as a seasoned business executive, including going head-to-head at the negotiating table with Donald Trump.
"The key is to separate his antics from his actions and focus on what he is going to try to do, and what he wants to get," van Paasschen said.
Van Paasschen is the former CEO of Starwood Hotels and Resorts and Coors Brewing Company. When he was running Starwood, he had the chance to see the results of disruptive innovation around the globe, which prompted him to write a new book entitled "The Disruptors' Feast".
"My style isn't his [Trump's], but what he does is he makes it very clear what he is trying to get out of the negotiation," van Paasschen said.
In the Lightning Round, Cramer quickly gave his opinion on stocks from callers:
Xilinx, Inc: "I think Xilinx could be owned on earnings. Very rare. T-Mobile I feel the same way. Earnings or takeover. That's right, I think you could own it either way because I think it can be bought and it can be bought on earnings."
Fitbit: "I expect nothing good to come of Fitbit. It turned out to be a commodity that's all it really was. It's a shame because it had such a great concept. But there is just too many of them. It's an overcrowded category. I can't recommend it."