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Looking for a Defensive Play?

Given how difficult the market has been to game lately, Cramer on Tuesday looked at a defensive play.

The "Mad Money" host reiterated the "Dickensian economy" idea, where it's currently "the best of times" for the very rich and "the worst of times" for the shrinking middle class and otherwise. In this environment, the high-end thrives because the rich are doing well and the low-end is also making money because the middle class is "vanishing" and most people are doing what they can to save money.

(Slideshow: Cramer's Top Picks for a Vanishing Middle Class)

So what's the trade? Cramer looked at home furnishing retailers Pier 1 Imports and Williams-Sonoma . While he likes both stocks, he thinks WSM is the better buy on a relative basis. It sells for 17 times earnings with 13 percent growth. With the stock trading at roughly $38 a share, he thinks it's the right time to pull the trigger.


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  • 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."

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