Cramer says the pull of the bond market is worrying, so keep some cash on hand

CNBC's Jim Cramer said the market's not so ugly that"cash is king" and investors should bail completely, but he indicated that it's still a good idea to have some on hand.

One cause for concern is the pull of the bond market, Cramer said, with some investors enticed by risk-free Treasurys. "We've been in this sell-off for over a month, and I still think it's a dicier time than most investors seem to believe," he said."Cash may not be king right here, but it certainly isn't pawn either."Cramer said the market's not so ugly that"cash is king" and investors should bail completely, but he indicated that it's still a good idea to have some on hand.

"We've been in this sell-off for over a month, and I still think it's a dicier time than most investors seem to believe," he said."That's okay. We have cash for the charitable trust — I hope you have some, too. Cash may not be king right here, but it certainly isn't pawn either."One cause for concern is the pull of the bond market, Cramer said, with some investors enticed by risk-free Treasurys.

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