Enter multiple symbols separated by commas

Stop Trading!: Buy Retail

Wall Street's focus on the Fed means some key earnings reports are going unnoticed, Cramer said during Wednesday's Stop Trading!.

Ingersoll-Rand , which has "really made some great changes," had a "monster call." The climate control business IR runs is "unbelievable," Cramer said, "when oil's at $115-$120."

He saved his best words for Jones Apparel , though: "Great quarter. Big dividend. Accelerated buyback. Huge Wal-Mart contract kicking in." Cramer gave JNY two thumbs up, adding that the highs, or near highs, seen in J Crew , Costco , Urban Outfitters (despite being downgraded) and others are part of a "selective retail rally."

Why buy retail in a high gas and food price/declining home prices-type environment?

“We are in the throes of an earnings renaissance," Cramer said, "that is really extraordinary among American companies."

Cramer pointed to the strength of engine-maker Cummins , a notorious poor performer during a recession, which is up $5.

"How many times when you're going into a recession -- where is the recession, by the way? -- has [Cummins] just stunk?"

"And don't forget," he continued, "JPMorgan and Goldman Sachs continue to go higher."

Jim's charitable trust owns Goldman Sachs.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

Contact Mad Money

  • Showtimes

    Monday - Friday 6p ET
    Saturday 8a, 1p, 7p SYD
    Sunday 12a, 1a, 8a, 7p SYD
    New Zealand
    Saturday 10a, 3p, 9p NZ
    Sunday 2a, 3a, 10a, 9p NZ
  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.

Mad Money Moments

Cramer's New Book