Although today was a "great day" for the market, last week was "brutal," Cramer told his viewers. He said he would love to say the selloff is over, but that's not the reality.
Instead, Cramer said he wants market players in secure dividend-boosting stocks, and in particular, he said he wants people to take a look at
Emerson Electric (
EMR), a stock that has boosted its dividend but has largely been forgotten about because of the selloff.
Although it might not be the most interesting stock, Cramer believes that it could make people money. The company, which should have 15% growth next year, is only trading at 15 times next year's earnings, which makes it "a steal," he said.
Emerson has already reported numbers that are "great," and although the stock should not be allowed to go lower than where it was after a dividend boost, that's what's happening here, he said.
There is "pure opportunity" to buy this stock, which has a 2.5% dividend yield, Cramer continued, adding that its dividend boost shows that Emerson has confidence in its future.
Another reason to buy Emerson now is that because short-term bond rates are higher, an "influx of investors who would have otherwise bought bonds," is likely to come to the market and buy dividend-boosting stocks like Emerson, he said.
The bottom line: "When you have a potential for a selloff, you need a stock that is going to be secure," like Emerson," Cramer said.
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