A 3-point run in Whirlpool stock was “remarkable,” he added.

Although it might be tough to recommend home builders such as Lennar, Toll Brothers, Pulte and Standard Pacific at the moment, the right timing could make them smart buys.

“When we get pullbacks, you have to pull the trigger,” he said. “We have a developing housing shortage. These are the guys with the homes.”

“It’s so easy to dismiss these stocks because of worries about the finances of airlines and the slowdown in China,” Cramer said. “But take a look at Textron. Amazing numbers from Cessna. Go listen to what Dave Cote , CEO of Honeywell, told us last night—he made it clear that the aerospace cycle has fits and starts, but it is in long-term ascendance.”

Cramer said it was “a little ridiculous” to say the cycle is done at this point, especially with Boeing’s customers beginning to take delivery of its Dreamliner.

Investors would do well to keep an eye on these three drivers that are working in a rocky economy, Cramer said.

HON News & Analysis

 Does Asia Slump Signal US Bump or Correction? - 23 May 2013 EDT - CNBC.COM

 FEATURE-'Irrational' hackers are growing U.S. security fear - 22 May 2013 EDT

 UPDATE 5-Dimon clings to JPMorgan chairman title, after fight - 21 May 2013 EDT

 GE Capital Plans $6.5 Billion in Cash to Parent - 20 May 2013 EDT - CNBC.COM

 Big Hair, Big Market, Big Scandals: Talking Squawk - 17 May 2013 EDT - CNBC.COM

 More HON News