(By Jim Cramer)

I am calling for a mixed market approach here. I really like the steel and the autos and the aerospace plays. But I would much rather buy P&G right now. That's where the bargains are, not in the cyclical.

One other thought: The White House is deaf, but not totally deaf. I suspect that jobs will be a major focus even though the president seems incapable of doing anything but health care for now. Maybe that, too, is a reason why P&G has no mojo whatsoever.

At the time of publication, Cramer was long Honeywell, Procter & Gamble and Pepsi.

Source: Jim Cramer's Best Blogs