Every night, Cramer ends "Mad Money" with the same message: "There's always a bull market somewhere and we promise to try to find it just for you."
Although the S&P 500 bounced off a six-week low on Thursday, Cramer stuck to his slogan. A bull market today may have been a bear market yesterday, he noted. Joy Global , for example, saw shares spike on Thursday after reporting earrings. The company disclosed how it's playing to underlying themes that transcend fears of a slowdown. Demand for energy in emerging markets, for instance, is very strong. Joy Global is benefiting from that demand, as the company makes equipment that's used for mining coal, copper and iron ore.
Investors had been dumping the stock on fears of a prolonged global economic slowdown. The company, however, said the slowdown, temporary or not, isn't impacting earnings.
In turn, people started buying stocks they had been selling yesterday and most notably those that do better in an economic expansion. Those stocks included machinery maker Caterpillar , engine maker Cummins and farming machinery manufacturer Deere .
At the same time, Cramer said people started selling what they had bought yesterday, especially consumer staples.
Cramer noted there has been a stark switch, which has lead to a bull market in industrials that meet the long-term needs of international markets. An 8 point decline in the Morgan Stanley Consumer Index suggests it's time to take profits in defensive names or staples.
The bottom line? Cramer said we've got plenty to like on any given day. There are bull markets out there. You just have to find them.
When this story was published, Cramer's charitable trust owned Caterpillar, Cummins and Deere.
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