Cramer's Battle Plan For Difficult Days
With stocks finishing near lows in volatile trading Tuesday, Cramer outlined his "battle plan" to help investors sidestep this warzone of a market and its "World War I-style bloodbath action."
The "Mad Money" host wants to buy some stocks on a real dip. He's interested in a few names in particular because the companies behind those stocks are doing really well. Starwood Hotels & Resorts , for example, is a good buy on a dip. Now is not the time to pick up shares, though, because he thinks it could drop further.
Not only is Cramer waiting for a pullback, he's hoping for a possible solution to Europe's sovereign debt crisis, too. Last week, European policymakers seemed to be headed in the right direction. On Tuesday, though, Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy.
"So a combination of no real dip and no real agreement in Europe means, to me, be careful, you don't need to venture blindly out of the trench," Cramer said. "Why get shot just because the reconnaissance is no longer accurate? Why not be patient and lessen the risk of getting your head blown off?"
There's nothing wrong with being cautious and waiting for a real sale in the markets, Cramer said.
When this story was published, Cramer's charitable trust owned Starwood Hotels & Resorts.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org