Cramer's 'Mad Money' Recap: Ugly Market Limits Picks

Cramer looked at the fund's recent filings and compared them to less recent filings to see what Heebner had recently bought and sold. He found that Heebner has sold Hansen Natural (HANS Quote), MasterCard (MA Quote) and Transocean (RIG Quote). Cramer disagreed with the sale of Transocean.

Heebner recently purchased Posco (PKX Quote), Arcelor (MT Quote), Vimpel (VIP Quote), Mobile Telesystems (MBT Quote), Research In Motion (RIMM Quote), Canadian Natural Resources ( CNQ Quote), Suncor ( SU Quote), Petroleo Brasileiro (PBR Quote), Cnooc ( CEO Quote), CVRD ( RIO Quote), Rio Tinto ( RTP Quote), BHP Billiton ( BHP Quote), Freeport McMoRan ( FCX Quote), McDermott ( MDR Quote), Foster Wheeler ( FWLT Quote), and Fluor (FLR Quote).

Cramer said these purchases confirm his bull market theses in mining and minerals, agriculture, oil, and international markets and recommended taking a look into all of these names.

Fooled by the Stock Price

Cramer dispelled two market fallacies with a single stock in his "going-to-the- tape" segment. He examined recent moves in Darden Restaurants (DRI Quote), operators of the Red Lobster and Olive Garden chains, to show investors where they may go wrong in their evaluation of a stock.

The day before releasing its current earnings, Darden closed at $36, he said. The next morning, the company missed earnings estimates by 9 cents a share and lowered guidance, causing the stock to plummet to $28.60. This big move may have led investors to think the stock is too cheap with its 2.7% dividend yield, but that is the wrong conclusion, Cramer said.

"Too cheap means nothing in this market," Cramer explained. He believes Darden has no reason to go higher. The company operates only in the U.S. and has failed to make its new restaurant concepts work, Cramer pointed out. "This is not a stock that's too cheap," he said, noting it is a stock that is making the painful transition from being a growth stock to being a value stock.