Buy This Bottom

Cramer likes to call his sister Nancy the original negative Nancy. But there seems to be a lot of those in the market right now. And that’s a mistake as far as the Mad Money host is concerned. There are just too many great buying opportunities out there.

January saw a similar fit of selling. What was Cramer’s advice? Buy the bull markets: agriculture, defense, minerals, oil and gas and healthcare cost containment. The strategy worked then, and he’s confident it will work now.

Sure, the Freddie Macs , Fannie Maes and Citigroups need more rate cuts. But the housing woes have taken down plenty of great stocks that didn’t deserve the mistreatment.

Merck , Schering-Plough and Allergan are all buys, Cramer said. So are Wellpoint and Unitedhealth .

What about the yields utility stocks are offering? Duke Energy , 5%. Con Ed , 5.7%.

The oil companies and trusts offer even better. Permian Basin Royalty pays out 12%. The Hugoton and San Juan Basin Trusts pay more than 7%. BP offers 5%.

And don’t forget Cramer’s other dividend-paying favorites: Altria , AT&T and Verizon . With the return on cash dropping ever lower, these yields are a better way to draw income from your investments.

Cramer also reiterated his calls last night on Chesapeake Energy , Potash and Agnico-Eagle . Use the dip – and any others in the future – as a chance to buy in.

Here’s why Cramer’s so bullish right now: People are petrified. No one else is screaming buy. That and the amount of short-selling going on signal a market bottom, he said, and not a top. With no positivity priced in, any good news could have a huge impact.

So don’t be running from the market when you should be running to it.

Jim's charitable trust owns Altria, BP, Schering-Plough and Unitedhealth.

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