We recently published a list of Jim Cramer Put These 8 Stocks Under the Microscope. In this article, we are going to take a look at where Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) stands against other stocks that Jim Cramer put under the microscope.

On Friday, Jim Cramer, the host of Mad Money, reminded his viewers that during volatile market days like that very day, it is easy to get caught up in the chaos and miss the bigger picture. He emphasized that understanding the overall picture could reveal significant opportunities. Cramer also took the time to go over some of his favorite casual dining stocks, pointing out that the CEOs of these companies had previously appeared on his show and provided valuable insights into the business.

"I want you to listen to me, breathe in, breathe out slowly... and don't take any action until you're certain that you can handle any amount of pain if it goes against you. If you think you can cope, then use the craziness that is happening in this stock market to start a position or to put money in an index fund that mirrors the S&P 500 because I think you'll do fine, but if you can't take the pain, don't even think about it."

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According to Cramer, the current market is far too volatile and fragile. He warned that if investors lack the mental strength to withstand short-term downturns, they risk buying stocks at their peak and selling them at a loss before witnessing a market rebound, like what happened that very day. The market started strong, dipped significantly, and then quickly recovered. He went to say:

"When the market's going up, everybody wants to wait for a pullback to buy stocks at a better price but once stocks start rolling over, we get terrified and we can't bring ourselves to pull the trigger. Lately, we've experienced a wholesale liquidation. I think there's some great buying opportunities out there, you just need to know how to find them."

Cramer specifically pointed to casual dining stocks that have taken a hit, even after reporting strong earnings. He suggested that some of the decline could be attributed to profit-taking after a peak in stock prices, while other factors like high valuations may have contributed as well. Furthermore, some of the weakness in these stocks was due to softer traffic in early February, which he noted was due to bad weather, as well as the ongoing trade war negatively affecting consumer sentiment.