Cramer's 'Stop Trading!': Caterpillar

NEW YORK (TheStreet) -- Caterpillar(CAT Quote) "reported miserable monthly numbers" the other day, said Jim Cramer on CNBC's "Stop Trading!" segment on Tuesday, and the shorts came "flying" in.

"No, no, no," he said. According to Cramer, Caterpillar, Bucyrus(BUCY Quote) and Joy Global(JOYG Quote) are "global recovery plays."

He said that the key with Caterpillar is the weak dollar. "It's good!" he said. "Caterpillar's earnings could explode here, even on declining orders."

Cramer said the shorts were "killing" him with Palm(PALM Quote), too. "Shorts, come on!" he said. "This is the Internet mobile tsunami. Wake up or get swept away!" He said he prefers Palm to Research In Motion(RIMM Quote) ahead of RIM's quarter.

Google(GOOG Quote) is a buy, said Cramer, calling the stock "inexpensive right here." He also said Citi's recommendation of Macy's(M Quote) "looked really good" and reminded viewers that Ralph Lauren(RL Quote) and Martha Stewart(MSO Quote) "are the ways to play Macy's on the derivative."

-- Written by Rebecca Corvino in New York.