Jim Cramer is always looking for opportunity. And while so many other investors were left frazzled by the recent selloff, Cramer was eyeing this stock.
Snap-on is among Cramer's favorite stocks, in part, because he views it as a stealth play on technology, due to its innovative diagnostics equipment.
Shares rallied more than 5 percent on Thursday after Snap-on reported strong third-quarter 2014 results with net sales confirming that growth remained intact. Specifically, net income in the quarter increased to $103.7 million or $1.76 per share from $84.6 million or $1.43 per share in the year-earlier quarter. Meanwhile, earnings beat the Zacks Consensus estimate of $1.61 per share by 9.3 percent.
It's just this kind of company that Cramer thinks investors should consider in this volatile environment. That is, it's a company whose shares are propelled by a theme, in this case, stealth technology. Cramer believes companies that benefit from themes are more likely to endure, even if the market takes another tumble.
And looking at all the negatives in the market, Cramer wouldn't be surprised if another slide is in the cards.
"I want to see more under control, and I want to see Europe get a little better," Cramer said. Until then, Cramer would stay buckled up.