Cramer: This Is Just the August Correction

 | Aug 10, 2017 | 10:45 AM EDT
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So here's the August correction that we figured on. You may think it is based on North Korea, but I think it has its roots in lower inflation and slower consumer spending -- making it so the Fed cannot move. And I am sure some will say they may not be able to move even in December.

As always, the issue is the banks. You must have the banks in your favor for a big rally.

They are going against you.

Second we don't know about Nvidia (NVDA) . Anything other than a clean beat could crush the semiconductors -- and they are vital to any rally.

All that said, I think that if there are stocks that you have waited to come down, you can't back away now. That's exactly what we are doing for Action Alerts PLUS, and I think that it's a decent time to start picking if, like us, you have some spare cash and some names you want to be bigger in. Discipline requires that you use this decline to buy, not sell, even as it looks horrendous and is not at all hospitable to any group but Treasuries.

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