Mad Money

Cramer: Cold December for investors?

Considering the start of the month sell-off, are investors facing an icy December ahead?

The mood on Wall Street was certainly cautious Monday after results suggested that the holiday shopping season was off to a lackluster start, at best.

For most of the session, the S&P 500 seesawed between negative and positive territory, while the Dow Jones Industrial Average and the tech-heavy Nasdaq fell back after a brief rise.

"You bet today got ugly," noted Jim Cramer. "3M dropped sharply. IBM broke down. Even social media darlings such as LinkedIn and Zillow got whacked."

And yet the "Mad Money" host isn't worried. How come?

Vince Penman | Vetta | Getty Images

"Simple, because the and the financials failed to give up the ghost and I think they may be the two most important groups in the market right now," he explained.

Looking at bank stocks, Cramer said the sector has every reason to rally.

"Banks just won't raise those CD rates an inch, even as interest rates keep inching higher." That should make banks more profitable. Also, he said lawsuits are starting to diminish.

Cramer believes those two catalysts should drive the banking sector broadly and "banks are a giant part of the averages. It's time they caught up with the rest of the market."

Looking at transports, Cramer said, "If the holiday season were that weak then this group wouldn't be able to power higher the way it has. I am incredibly impressed with the way, for example, Federal Express hung in there all day. That's a terrific indicator of the health of the economy."

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Also, Cramer can't help but note that earnings have been relatively strong. Therefore he thinks Street research could be bullish in the days ahead.

"I think we could get buy reiterations," Cramer said.

Now that's not to say stocks can't go lower, they can.

However, a smattering of bullish research notes combined with favorable price action in the financials and the transports may be all that's needed to turn December's frown upside down.

"Ultimately, buyers are looking for reassurance to keep buying," Cramer explained. "I bet the buyers get their way."

Call Cramer: 1-800-743-CNBC

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