Cramer agreed that Joy Global is far from a cyclical company and investors are simply overreacting to the fears in Europe. He said for investors that can weather the short-term, the time to start buying Joy Global is now.
Here's what Cramer had to say about caller's stocks during the "Lightning Round":
(CHK): "Why would I want to own Chesapeake when
(DVN) has better assets? I don't want to own Chesapeake."
(AVT): "Cheap, cheap, cheap, cheap. It has Europe and semiconductors so people hate it, but I think that's a great story."
Dr Pepper Snapple
: "I think that's a terrific stock to own here. They generate a lot of cash. I say buy, buy, buy."
: "No, no. This has been a terrible performer. "
: "I want to be hopeful, but the latest data did not give us as much hope as we wanted. "
: "I think they tell a good story. People get nervous and they keep selling it, so be careful. But I like it."
: "There's too much takeover fluff in there. I don't want to touch it."
: "I don't really care for this stock. I like
: "This is a terrific company but the industrials are hated. I'd buy it at a 4% yield."
Am I Diversified?
In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent via Twitter to
to see if investors' portfolios have what it takes for today's markets. The first portfolio included:
Johnson & Johnson
and Joy Global.
Cramer said that Randgold is gold and Joy Global is mining, so he'd bless this portfolio.
The second portfolio's top holdings included:
Royal Dutch Shell
Cramer said he'd get rid of Exxon and BP and add a health-care and a utility stock like Johnson & Johnson and ConEd.
The third portfolio had: Apple,
Kodiak Oil & Gas
as its top five stocks.
Cramer said this portfolio was properly diversified.
Shame on J.P. Morgan
J.P. Morgan Chase
(JPM - Get Report)
CEO Jamie Dimon do well testifying in front of Congress today? Cramer's answer, who cares!
Cramer said it doesn't matter whether Dimon did well or not. He and his firm were wrong when they walked into the hearing room and were just as wrong when they walked out. The real issue, said Cramer, is J.P. Morgan was betting against the interests of its clients.