Cramer's 'Mad Money' Recap: It's Almost 2011 on Wall Street's Calendar (Final)

On the Rebound

In a second interview, Cramer sat down with Farooq Kathwari, CEO of Ethan Allen (ETH) for the latest read on both the housing market and the retail sector.

Kathwari said that fiscal 2009 was the worst year he's seen in his 30-year tenure at the home furnishings company. But since then, he said, sales fell an additional 30% in the company's first fiscal quarter of 2010 and fell 9% in the second before it rebounded in the third quarter, when it was up 19% and up 23% in the fourth quarter. He said the company is making money again, albeit from a lower base.

Kathwari explained that Ethan Allen is one of only a few companies that takes an idea, designs it, manufactures it, distributes it nationwide before selling it through a retail network. Given that extensive operation, he said every element feels the downturns as well as the upturns.

Fortunately for Ethan Allen, Kathwari said his people were up for the challenges and were ready to make the changes they needed. He said the company consolidated three uphoustery plants into one state of the art facility, and 16 small manufacturing facilities into three major ones.

Cramer commended Kathwari for his efforts to turn around Ethan Allen, and said he's still a buyer of the stock.

Lightning Round

Cramer was bullish on CIENA (CIEN), Teva Pharmaceutical (TEVA) and Citigroup (C).

He was bearish on Microsoft (MSFT).

-- Written by Scott Rutt in Washington D.C.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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.

>To order reprints of this article, click here: Reprints