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Think Before You Ring the Register

While investors may be tempted to take profits in this bull market, Cramer on Thursday recommended investors be slow to ring the register.

Instead of being quick to take profits, Cramer told investors to wait winning stocks out. Most stocks are incredibly undervalued and have room to run to the upside.

How are investors to know which stocks to keep and which to cut?

Never quibble with money-making investments, Cramer said. If a stock is making you money, don't second guess it. The winning stocks, he said, will take care of themselves. Losing stocks, on the other hand, are another story. He recommends cutting losses where you can.

"Be disciplined and examine what you're doing wrong," Cramer said. "If you can eliminate the big losses, your winners will allow you to do terrifically."

If sitting on a stock with upside potential, Cramer recommends waiting for your patience to be rewarded. Investors need to break free from the notion that a stock has a nice run, it has to pullback. That's not always the case, he said. After all, he said stocks are more undervalued than anyone thinks. At the same time, the risks of owning stocks aren't nearly as great as they were a year ago.

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