In this market, if you can eat it, drink it or smoke it, then buy it, Cramer said. Any other kind of stock will probably lose you money.
Forget about aggressive moneymaking. Recession is a very real possibility, so it’s time to play defense. The usual stocks apply: Coca-Cola , Pepsico, Procter & Gamble, Merck.
Cramer’s sticking with a few of his so-called “Indestructibles,” too. Altria, Medco Health Solutions and Transocean all still work. In fact, RIG just hit a 52-week high, and Credit Suisse upgraded the stock Monday.
Unfortunately, two Cramer favorites – Foster Wheeler and Freeport-McMoRan – have declined. The market just gave up on them even though most of their business is outside the U.S. So even though Cramer likes them more than any of these defensive stocks, they just can’t be owned right now, he said.
Jim's charitable trust owns Altria, Freeport-McMoRan, and Transocean.
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