Jim Cramer: This Market Is All About ‘USA On, China Off’
2012 is all about “USA on, China off,” not “risk on, risk off,” Cramer said Tuesday.
Stocks ended in negative territory Tuesday after reports warned that China was slowing faster than initially believed. Names like Joy Global , Cummins , Caterpillar andCliffs Natural Resources all took a hit on the news.
However, the “quintessential America on” stocks blossomed, Cramer said.
“This is a market where the negatives are sequestered by the positives,” he said. “China’s slowing, well then let’s buy American.”
With employment growing, construction returning and inventories replenishing, Cramer thinks the “USA on” theme could be here “for the duration.”
When this story was published, Cramer's charitable trust owned Cummins.
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