Cramer's 'Mad Money' Recap: Still Bullish After Selloff (Final)
NEW YORK (TheStreet) -- Complacency was the word of the day on Jim Cramer's "Mad Money" TV show Monday, as he told viewers that 2012 is shaping up to be markedly different than 2011, which means the word complacency takes on a whole new meaning.
Cramer responded to critics who have been complaining that he's been too bullish on the markets and is too confident that stocks are heading higher. The critics want Cramer to recommend selling everything, ahead of the old adage "sell in May and go away," starting with today's selloff.
But Cramer reminded viewers that the Dow Jones Industrial Average has plunged more than 250 points 67 times over the past few years, and today was not one of them. The markets have plunged more than 2% a total of 101 times over the past few years, and today was not one of them. Things are simply better now, added Cramer, which is why being complacent, thinking things are still the same as they were in 2011, is the reckless strategy.
Cramer said if investors truly feel that the Federal Reserve controls stock prices, by all means, sell. But, he said, that decision will keep investors out of stocks like Apple (AAPL) , a stock which he owns for his charitable trust, Action Alerts PLUS, and others like Starbucks (SBUX) and Las Vegas Sands (LVS) , all of which are markedly higher.
Cramer said, in his view, if the Fed stops stimulating the economy, then that means things are getting better, and if not, they'll still continue to assist the markets. In either case, investors win.
There's a lot to like in these markets, said Cramer, which is why a more positive outlook is the prudent one, one that can capitalize on the market's 20% move so far this year.