Cramer's 'Mad Money' Recap: Lose the Gloom and Doom

Back in the U.S., Sutherlin said customers remain cautious, but he noted that investments are still being made and land for new mines is still being bought.

Cramer said he remains a believer in Joy Global because the company clearly has a handle on the global economy few other companies have.

Looking for Discounts

After being on a roll for the past few years, the dollar stores are now getting crushed, Cramer told viewers, but that doesn't mean there aren't any discount retailers worth owning.

Cramer said that all of the dollar stores, including Dollar General (DG),Family Dollar (FDO) and Dollar Tree (DLTR), have been rolling over the past few months, with Family Dollar falling over 25%.

That should come as no surprise, he said, as Dollar Tree reported stalled same store sales in Nov, while Dollar General reported falling gross margins and Family Dollar missed earnings by a full six cents a share.

What's to blame for the weakness? Cramer said the dollar stores are getting squeezed by the likes of Wal-Mart (WMT) and a reinvigorated Target (TGT) as well as by drugstore chains like CVS Caremark (CVS). In addition, the dollar stores are facing tough comparisons, ones they aren't likely to beat.

Cramer said the dollar stores are attractive on a valuation basis, with Dollar Tree trading at 14 times earnings, Dollar General at 13 times and Family Dollar at 13.5 times, while historically they fetch between 16 and 17 times earnings. But with no catalyst to help them get there, he said buying them now would be a "no no."

So what should investors consider buying? Cramer said why not consider Five Below (FIVE), the chain with 243 locations that has seen its shares almost double since its IPO last year? Five Below posted better than expected earnings that sent shares up over 8% today and even a secondary offering of stock wasn't enough to knock them off their game.

Lightning Round

In the Lightning Round, Cramer was bullish on Total SA (TOT) and Cisco Systems (CSCO).

Cramer was bearish on Antares Pharma (ATRS), >Chesapeake Energy (CHK) and EMC (EMC).

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