Cramer on BloggingStocks: As whacking ends, what looks good to buy

TheStreet.com's Jim Cramer says the market showed its stuff Monday, and health care, tech and retail look like buys.

Sweet comeback as people are getting too panicked and too bearish. I noticed it first in the retailers, which all trade like subprime-mortgage originators.

It then spread to the oil and oil-service stocks (as if oil is going to plummet, not just find a level). The minerals got whacked something awful off the usual recession gambit.

Then it started hitting tech names, including ones that are doing well and just reported, like EMC (NYSE: EMC) (Cramer's Take) off the big downgrade.

To me the last straw was the collapse, for a second day, of Goldman Sachs (NYSE: GS) (Cramer's Take), something that simply makes no sense at all except from the proposition that both competitors, Merrill (NYSE: MER) (Cramer's Take) and Citigroup (NYSE: C) (Cramer's Take), will now be better run (which is a given, by the way).

In fact, the only five stocks that were holding up throughout the onslaught -- at least on my screen -- were Yahoo! (NASDAQ: YHOO) (Cramer's Take), Google (NASDAQ: GOOG) (Cramer's Take) and IACI (NASDAQ: IACI) (Cramer's Take) plus Deere (NYSE: DE) (Cramer's Take) and Parker Hannifin (NYSE: PH) (Cramer's Take) -- the latter are incredible stalwarts.

The ability of this market to shrug off these losses will be the tale of today's tape. Resilience has been the hallmark of this market when it comes up against key levels, and it showed it again today.

It's probably time to do some buying of health care -- we did Monday in Action Alerts PLUS -- tech, and retail, and cover some of the financials.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long EMC, C and Goldman Sachs.