Cramer's 'Mad Money' Recap: GameStop, Look and Listen

Expectations are high for the company, he said. "If GameStop goes down, buy some. If not, pass."

Cramer, who called GameStop a "short-term trade," believes that investors should wait until Halo's release date to sell.

Psychology of Stocks

"The psychology has changed, and stocks can once again go higher," said Cramer. However, with the U.S. economy heading toward a recession, Cramer believes that "the world of the dollar store"-- a sector that Cramer has "not given up on" -- is coming back into play.

As slower times for "low-end consumers" generally call for "lower spending," these consumers are more likely to curb spending with "inferior goods." Cramer believes that Dollar Tree (DLTR Quote - Cramer on DLTR - Stock Picks) is the "best of breed" when it comes to that category.

Currently in its sixth-straight quarter of increasing traffic, Dollar Tree is a company on the offense. It recently began accepting food stamps and debit cards for payment, thus widening its economic reach. Dollar Tree has also begun selling items that "cost more than a dollar," leaving more room for profit.

Cramer believes that Dollar Tree easily stands out from its two main competitors, Dollar General and Family Dollar (FDO Quote - Cramer on FDO - Stock Picks).

Dollar General was recently taken private, which is likely to mean that "underperforming stores" will be closed down. Meanwhile, Family Dollar already has twice the stores that Dollar Tree does, which leaves less room for "expansion."

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