Cramer's 'Mad Money' Recap: Bright Spots

Bunch cited several areas of strength for PPG, one of which was autos. He said the auto market is still healthy and PPG is seeing growth of around 5% to 6%. Europe continues to be weak, Bunch noted, but here in America an auto renaissance has begun.

When asked about titanium dioxide, or TiO2, one of DuPont's major failings, Bunch explained that PPG is a buyer of TiO2 for many of its products. After rampant price inflation, that important component is now seeing sequential price declines, which have been great for his company.

Cramer cited PPG as another bright spot in what overall was a terrible market Tuesday.

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Mark Sebastian over the direction of SPDR Gold Shares (GLD). With the price of gold hitting six-week lows, is now the time to buy?

Sebastian looked at the correlation between the Gold ETF and a fairly new indicator called the Gold Volatility Index. Like the volatility index, or VIX, for the overall markets, the Gold VIX, looks at the volatility of gold prices. Sebastian noted the Gold VIX is now at its lowest level since the indicator came into being five years ago.

Sebastian also noted that five of the past six times the Gold VIX fell, the Gold ETF rallied big. Given the historic low level of the Gold VIX, Sebastian put a price target on the Gold ETF at $180 a share.

Cramer said he'll take five out of six odds any day of the week and he agrees with Sebastian that the ultra-low levels in the Gold VIX could be a signal of a big move to come.

Lightning Round

In the Lightning Round, Cramer was bullish on Kinder Morgan Energy Partners (KMP), Enterprise Products Partners (EPD), Lorillard (LO), Visa (V), Walgreens (WAG), OraSure Technologies (OSUR) and Huntington Bancshares (HBAN).

Cramer was bearish on AK Steel Holding (AKS), OmniVision Technologies (OVTI), Ferrellgas Partners (FGP), Dell (DELL), Nokia (NOK) and Research In Motion (RIMM).

Look at the Data

In his second "Executive Decision" segment, Cramer spoke with Dr. Stanley Crooke, founder, chairman and CEO of Isis Pharmaceuticals (ISIS), a stock Cramer featured on "Speculation Friday" two weeks ago. Since that recommendation, shares of Isis were shot down 26% as a Food and Drug Administration panel raised concerns over its latest application for its cholesterol-lowering drug, Kynamro.

While the FDA panel ultimately voted nine to six in favor of Kynamro, Crooke said the agency did raise questions about possible cancer and liver side effects. But that was simply because, unlike a rival drug also up for approval, Kynamro has been more thoroughly studied and could provide answers to those questions.

To be clear, Crooke said there have been absolutely no relevant findings for either cancer or liver damage with Kynamro.

Crooke said it's important to look at the data because FDA panels can sometimes be influenced by outside factors. He said Isis stands by the quality of its work and Kynamro works as promised.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer said he continues to be mystified by the market's reaction to falling oil prices.

He said the theory that the markets should head lower on lower gas prices because the global economy is slowing is simply stupid. In fact, high gas prices are a tax on both small business and on the consumer. When gas prices fall, both have more money to spend.

Cramer said if oil falls to $80 a barrel then he would have to raise estimates for a whole host of consumer-related companies.

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

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At the time of publication, Cramer's Action Alerts PLUS had positions in AAPL and DD.

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