Jim Cramer's 'Mad Money' Recap: Is the Downturn Serious?

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NEW YORK (TheStreet) -- Is the market downturn starting to get serious? That's the question Jim Cramer pondered on "Mad Money" Monday. Cramer said the markets overlooked a host of positive news today and instead focused on the negative, using the weakness as an excuse to sell everything.

Cramer called out the takeover bid for Beam by a foreign entity as one overlooked positive in the markets today. He also called the takeover bid for Time Warner Cable as another big plus.

The news that Merck is getting serious about unlocking value by spinning off its animal health division was also overlooked in today's trading, Cramer noted, as was positive news from Juniper Networks that sent that stock up 7% on a miserable day.

Instead, the markets were focused on retail, Cramer continued, with Lululemon Athletica down 16.6%, and SodaStream , down a staggering 26%, leading retail sector's bad news for the day. Guide downs from Ascena Retail and Bon-Ton Stores further compounded the declines.

However, despite the many negatives, Cramer reminded viewers that it's never a good strategy to use bad news as an excuse to sell everything. The markets have problems, he admitted, but that just means investors need to focus even harder on what's working.

Executive Decision: Bill Cobb

As tax season approaches, Cramer sat down with Bill Cobb, president and CEO of H&R Block , in his "Executive Decision" segment to discuss the company and the many new changes in this year's tax laws.

Cobb said Obamacare represents the biggest change in the tax code in 20 years. He said the law is complicated and what taxpayers may think is a subsidy is actually an advance tax credit that can be confusing.