• Get ready to pull the trigger on these stocks — ‘We’re almost in oversold territory,’ Jim Cramer says
  • After another day of extreme selling, Cramer argued it should be safe to start buying among the rubble on Tuesday.
  • The best picks may be in the managed care, insurance and telecommunication spaces.
  • “It’s been a wild ride, but we’re almost in oversold territory and there’s not much more China can to do hurt our economy,” Cramer said.

Wall Street is nearly oversold and investors should get ready to load up on names that can withstand the threat of higher tariffs, CNBC’s Jim Cramer said Monday.

Today, the market turned against everything but the soft goods stocks … That kind of move tends to only last for three days, and this was day two,” the “Mad Money” host said. “Tomorrow day three by the end of the day, the buyers usually start circling back to stocks with no Chinese exposure. Think FANG: Facebook, Amazon, Netflix and Google’s Alphabet. ”

After another day of extreme selling the Dow Jones Industrial Average fell 2.38%, S&P 500 tumbled 2.41%, Nasdaq Composite retreated 3.41% Cramer argued it should be safe to start buying among the rubble on Tuesday. The best picks may be in the managed care, insurance and telecommunication spaces.

Cramer has a hold call on semiconductor stocks because their business with Apple could take a hit based on the iPhone maker’s exposure to China. Starbucks and Nike could also face boycotts in China, he added.

“So get ready. It’s been a wild ride, but we’re almost in oversold territory and there’s not much more China can to do hurt our economy,” he said. “Even as it sure could hurt the stock market, because their moves inspire panic like no other country’s business.”

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source: CNBC