Cramer's 'Mad Money' Recap: Foiling the Bears (Final)

Click here for an archive of Jim Cramer's Mad Money recaps. Click here to get Jim Cramer's Mad Money Post Game video exclusively on TheStreet.com.

---

NEW YORK (TheStreet) -- "Every argument the bears had for taking this market lower has been answered by the bulls," an optimistic Jim Cramer conveyed to the viewers of his "Mad Money" TV show Tuesday.

He said the bulls have put the bears in their place, addressing every issue with solid data to the contrary.

What were the bears' main points? Cramer identified six:

1. Consumers simply have no money to spend for the back-to-school season.

2. The tech rally has halted after a great run.

3. China is done buying goods because it has all the resources it needs.

4. Credit card defaults are still rising and plaguing the banking system.

5. The "Cash For Clunkers" program is stealing sales from other parts of the economy.

6. Obama's healthcare reforms changes will cripple the economy.

Cramer said the markets have rebuffed all of these arguments. Today both Target (TGT Quote) and Home Depot (HD Quote), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, said they see sales and profits getting better.

In tech, reports surfaced that Apple (AAPL Quote) is taking share around the globe with its iPhone, while Hewlett-Packard (HPQ Quote), another Action Alerts Plus name, also reported a good quarter.

Cramer said despite a momentary low, China is back buying resources today and oil is over $70 a barrel. Meanwhile Cramer favorite Citigroup (C Quote) said it sees credit card defaults declining.