Jim Cramer: "What does Target care about Ireland?"

Cramer did not receive the memo that Target

is now a credit card company

Target beats estimates and becomes a credit card company

11/18/10

NEW YORK (The Street) -- Investors need to see through the smokescreen of negativity, Jim Cramer told the viewers of his "Mad Money" TV show Thursday. He said those who took advantage of Tuesday's big selloff, profited handsomely today.

Cramer said Tuesday's market decline was spawned by concerns over debt in Ireland and a decline in oil prices. But in the fog of the panic, everything got taken lower, even stocks that have nothing to do with either. "What does Target (TGT) care about Ireland?" asked Cramer.

In reality, Tuesday was a fabulous day for Cramer's "FADS CAN" group of high- growth names. Cramer said between Tuesday's low and today's highs, the gains in the FADS CAN stock were remarkable:

• F5 Networks (FFIV), up six points.
• Apple (AAPL), an Action Alerts PLUS stock, up nine points.
• Deckers (DECK), up three points.
• Salesforce.com (CRM), up 15 points.
• Amazon.com (AMZN), up seven points.
• Netflix (NFLX), up eight points.

Only Chipotle Mexican Grill (CMG) was down this week, and Cramer said he'd be buying that one hand over fist.

Cramer encouraged viewers to always have a shopping list ready of stocks they'd like to buy. Then, when the market puts those stocks on sale, be ready to pounce. "See through the smoke," said Cramer, "and take advantage of the selloffs.