Despite a strong start to trading in 2011 on Monday and a robust end to 2010, stocks struggled on Tuesday. Consider it preview for how stocks will trade for the rest of the year, Cramer said.
"The moment this market turned down, all of those traders who were talking about how a market that rallies on the first day of the year is a market that stays bullish, well, they all vanished," he explained. "That kind of action is exactly what this market is going to be about in 2011. Rallies and swoons."
In an environment where the bears are ready to maul you with their claws the second the market stumbles, it's easy to get discouraged. But in the year ahead, Cramer expects more short, sharp corrections, which can be used to pick up solid stocks at a discount.
"These pullbacks are sales, not reasons to sell. When they throw a sale at Macy's, you buy more stuff," Cramer said. "You don't panic and run screaming from the mall."
Cramer noted discounts across a variety of sectors.
Shares of Fluor, for example, are down $3 off a decline stemming from projects that might be delayed because of the Australian floods. Quite a discount, Cramer said, if you believe such infrastructure companies will benefit from increased demand in fast-growing emerging markets.
In the oil space, Schlumberger's stock fell to $81 on Tuesday from $84 the day prior. Freeport-McMoRan , a mining play, also dropped sharply. It fell to $118 on Tuesday from $122 on Monday.
McDonald's is down 10 percent from its 52-week high and sports a juicy 3.2-percent dividend yield. Cramer said many think it's become "dangerous" and prone to short selling, but he thinks it's a buy.
The same thing is happening with energy stocks, Cramer said. Oil dropped $2 and people were quick to short it down further. But Cramer recommends sticking with this space, being as demand from emerging markets should drive oil demand higher. He likes Hess , a New York City-based oil play.
Bottom line: As long as you're able to stay bullish when everyone else panics, Cramer thinks you can get terrific deals on great stocks.
When this post was published, Cramer's charitable trust owned Fluor and Hess.
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