Jim Cramer knows that investing can get complicated. He's constantly advising which stocks to buy into weakness, but then when the weakness comes, you panic and get cold feet.
"That's not the way I like to play it. I know that discipline is a double-edged sword. You have to be disciplined enough to sell when a stock soars, and you have to be disciplined enough to buy when a stock you're eyeing gets hammered," the "Mad Money" host said.
But on days like Monday when the market hits new lows, it's time for Cramer to dust off his shopping list and circle back to his favorite stocks to see if there are any bargains lingering out there.
On July 9, Cramer gave a list of 15 mine-resistant stocks that could be a good buy on the next pullback. He decided to go back to that list and see if any are ready to be bought.
First up was Disney, which Cramer hasn't seen a correction on yet, unless you consider a decline to $118.29 on Monday from $119.90 a decline. He would rather wait for some dislocation before pulling the trigger on this one.
Then there was Nike, which Cramer recommended to buy at $110 and then wait for it to go lower before buying more. He also liked Snap-On Tools, which is down roughly six points. While that isn't much for a $157 stock, it's a rare chance to buy at a discount.
Or how about Marathon Petroleum?
"If you think that crude will continue to plummet, you want to buy this stock, which is down more than $5 from its high and was down badly today. I think oil's got more downside," Cramer said.
Cramer also recommended pouncing on Comcast, because it just reported a stellar quarter and it's down to $61 from $64.50 which is a big discount for it. It also has no real relation to China, which makes it more attractive to the "Mad Money" host. (Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.)
However, one stock that Cramer is really worried about is Eli Lilly. It ran up big time in anticipation of an Alzheimer's drug, and while the results were impressive, Cramer thinks it borrowed from the upside and is too heated.
Next up was General Mills, which may be hard to swallow because it's down less than $1 from its highs. But Cramer thinks this one is worth it; he loves the direction its CEO is taking and he knows that if the Fed decides to tighten, this high-yielding stock will be more attractive.
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Speaking of food, Cramer also likes Kraft-Heinz as it is four points off its high with a snazzy 2.85 percent yield. Finally, there was Ulta Salon. It's up 22 percent year-to-date and is finally having a pullback. Cramer called this one a buy, buy, buy.
"All that said, I'm not crazy about this market. I don't like the setup—haven't for ages. I don't like what's going on in China, and I do worry that the Fed might tighten too aggressively," Cramer added.
However, his list of Teflon stocks could stand strong in a tough environment, though Cramer is reluctant to chase. So, time to take out the shopping cart for some, and wait for better clearance prices on the sale rack for others.
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