So who's right? Cramer said both sides are. He blessed owning Sands, along with
(WYNN), for any investor who feels China is on the rebound, but also MGM for investors betting on a big turn in Las Vegas.
Quaffing With Cramer
For the next installment of his "Cramer's Cookout" series, Cramer set his sights on the bull market in beer. Yes, that's right -- beer shipments are up 3.8% in the most recent quarter. That's great news for the king of beers,
(BUD), along with rivals
Molson Coors Brewing
(TAP) and spirits maker
Cramer said while Anheuser is the world's largest brewer, the company reported a mixed bag last quarter, with a 3.9% rise in revenue but also a 12-cents-a-share earnings miss. Despite the miss, however, shares did not plummet because Anheuser still has a lot of synergies to gain from its Corona acquisition, along with growth to be had from Europe and China as those economies recover.
Boston Beer has seen its shares soar this year, and also posted a honest beat on its last conference call. But Cramer warned shares are now fully valued at 34 times earnings with a 15% growth rate. He said it's time to ring the register. Molson Coors is also not overly attractive, said Cramer, as it offers slower growth and fewer catalysts than Anheuser.
Cramer remains a fan of Diageo, as that company derives 40% of its sales from emerging markets and another 20% from Europe, leaving this company with huge opportunities ahead.
So when it comes to beer, Cramer told viewers to stick with Anheuser-Busch, and if they're looking for something a little spicier, go with Diageo.
In the Lightning Round, Cramer was bullish on
Cramer was bearish on
Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleague Dan Fitzpatrick over the direction of markets. According to Fitzpatrick, the markets may be done rallying for the year and are likely to trade sideways until 2014.
Using a daily chart of the
, Fitzpatrick noted the average's uptrend resistance line has been acting as a ceiling since November. With every rally that ceiling was tested, until most recently.
Conversely, the S&P's 50-day moving average has served as a floor of support, also being retested with every downturn, until most recently. Since June 20, Fitzpatrick noted, the S&P not only failed to stay above its floor, but the subsequent rally also failed to retest its ceiling.
Additionally, Fitzpatrick noted the MACD is signaling a bearish crossover; the last time that happened, the S&P moved sharply lower. Combine these facts with a breakdown in the relationship with interest rates and Fitzpatrick felt the markets have huge hurdles to overcome.
Cramer said he agrees with Fitzpatrick's assessment of the state of affairs but he also feels that if any inputs change, as in interest rates going lower or China and Europe heading still higher, the markets could still stage a year-end rally.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer opined on the stocks of
, three "cult" names that he said will keep going higher as long as cult members continue to love them.
Cramer said all three of these companies' valuations make no sense whatsoever, but people just keep buying them as they're the hottest products and services around. They simply defy logic, he said -- but as long as those products and services continue to wow consumers, the sky's the limit, as the shares have already proven.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC
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-- Written by Scott Rutt in Washington, D.C.
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