“On down days like today, you have to stick with your game plan,” Jim Cramer said on Thursday’s “Mad Money” TV show. On last Friday’s Game Plan, Cramer spelled out specific events that make either a bullish or bearish case for the stock market. One specific event would be if stocks such as General Mills Inc. (GIS), Bed Bath and Beyond (BBBY) and Paychex Inc. (PAYX), were hit with selling after they reported earnings, that would be a sign that time to get more defensive. That’s exactly what happened, he said. On top of that, Thursday’s existing-home sales numbers were worse-than-expected, oil traded lower all week, and even copper was hit with selling. “This helps to prove the defensive thesis, and it’s the reason my charitable trust has been taking profits in its industrial holdings and moving into so-called safety stocks,” Cramer said. He told viewers to take some profits and prepare for a possible 3% to 5% decline in the markets. Cramer mentioned he’s still bullish on the mobile Internet, and he recommended using the sell-off to buy more of the companies tied to this trend like Apple Inc. (AAPL). Cramer also predicted last week that any weakness in Research In Motion Ltd (NASDAQ: RIMM) would take down the mobile Internet names. “That happened and now’s a great time to buy into the group,” he said. Cramer advised investors to watch aircraft-maintenance company AAR Corporation’s (AIR) quarter. Any good news out of AAR would make Boeing Company (NYSE:BA) and its 3% dividend yield more attractive, and that’s exactly what unfolded. Finally, Cramer said it’s time to be defensive. He likes Procter & Gamble (PG), a stock he holds in his charitable trust, and Kimberly-Clark Corporation (KMB). “We’re staying defensive until prove otherwise,” said Cramer. Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!