Monday's sell-off was all about one thing: the tragic earthquake in Japan, Cramer said.
At a certain point, investors will have to act as though Japan's tragedy is baked into the market, Cramer said, and will have to envision what the "strong people and government in Japan will do in response to this tragedy."
But you don’t even need to believe in Japan to be positive here, he said.
"What happened in Japan is a tragedy, no question, but the response and recovery might end up strengthening their economy," Cramer said. "For example, Japan has a massive power shortage... To rebuild power they'll need gigantic amounts of materials and earth-moving equipment and cranes. In the interim, they'll need Diesel generators to provide power for emergency situations.
"In short, who makes that? That's Caterpillar, which is why this stock was up today," Cramer said. "Almost every single element of CAT’s production lineup will be boosted by this earthquake and tsunami. And I would predict they have to do a gigantic amount of hiring to meet this demand."
Japan will also need contractors to rebuild, Cramer said.