Investors should be "disciplined" and buy selectively as stock prices fall, CNBC's Jim Cramer said Tuesday.
"Remember when we used to say that if stocks dropped a lot, they might be interesting and that a combination of buybacks, dividends and superior earnings can transcend the chaos ... I actually think that the money can come back from the sidelines," the "Mad Money" host said.
"Have some cash and put it to work slowly, in a disciplined fashion, on the way down ... then you'll catch the proverbial bottom," he added, acknowledging that it's unclear when the market will actually hit bottom.
Cramer's comments came after U.S. stocks dropped on Tuesday as Russia's invasion of Ukraine and roaring inflation continue to shake Wall Street. The Dow Jones Industrial Average dropped around 1.76%, or nearly 600 points. The S&P 500 slid 1.55% and the Nasdaq Composite decreased 1.59%.
While the market has rallied in recent weeks, which Cramer has previously attributed to a robust U.S. economy and investor sentiment about economic sanctions on Russia, the host warned against holding onto any false optimism about the market recovering anytime soon.
"You're a fool if you think that things are only just now getting bad for the stock market and can only get much worse," he said. "It's been going down since November thanks to this endless sell-off, but you know what, maybe we're a lot closer to a bottom than a top," he added.
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