Cramer's 'Mad Money' Recap: 'Tis the Season for Stocks

However, people shouldn't let the short-term bad news scare them out of a good long-term story, he said.

"Say you own a bank stock like Wells Fargo

(WFC Quote), which is among the best," Cramer said. "The market might try to spook you out of owning it, but don't be spooked. You are owning it for a Fed cut."

Cramer believes there will be a cut because things are so bad and a Fed cut, he said, will trump the negativity. "Think about the long-term idea," Cramer urged viewers. "Do not be shaken out."

Mad Mail

In his "Mad Mail" segment, Cramer said CEOs are "extremely highly paid people who run public companies." He said he is hard on certain chief executives because they are paid millions but lose money for people.

Lightning Round

Cramer was bullish on ITT Educational Services (ESI Quote), Yamana Gold (AUY Quote), Barrick Gold (ABX Quote), EMC (EMC Quote), Merck (MRK Quote), Wyeth (WYE Quote), Celgene (CELG Quote), Schering-Plough (SGP Quote), McDonald's (MCD Quote) and Goldman Sachs (GS Quote).

Cramer was bearish on Noah Education Holdings (NED Quote), NovaGold Resources (NG Quote), Pfizer (PFE Quote), Starbucks (SBUX Quote), Advanced Micro Devices (AMD Quote) and D.R. Horton (DHI Quote).

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

For more of Cramer's insights during the Lightning Round, click here.