Cramer: Don't Be Stupid, It's Time to Buy
"If you actually want to make money in this market and do better than the averages," Cramer said Tuesday. "You need to show a little spine."
Investors should have some conviction that the stocks they're looking to buy make sense and won't be affected by the bears' litany of concerns, he said. Those who've done their homework on a company should feel confident enough to buy its stock on a pullback. There are lots of opportunities to buy, too, being as the sell-off created entry points for names that earlier ran up too much to chase.
Take Peabody Energy or CSX , for example. Cramer also likes EMC on weakness after Hewlett-Packard reported positive earnings results on Monday. He would also take a look at Clean Harbors .
No matter what name investors decide to go with, Cramer recommends buying in stages being as the first price you get may not be the lowest. Either way, don't be afraid to stay in the game.
"To me, the stupid thing to do is to back away from these names just because others are panicking," Cramer said. "When you have confidence in your homework and faith that the price breaks you're getting are not because of intrinsic concerns about the company that could be causing the individual stock to sell-off, you want to buy, buy, buy."
When this post was published, Cramer's charitable trust owned EMC.
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