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Jim Cramer's 'Mad Money' Recap: Blame China, Greece for the Meltdown

Greed will forever be a part of our markets, even if we've already seen the dangers and those dangers are now just behind us, Cramer concluded.

Best For Your Buck

For the next installment of his "Best For Your Buck" series, Cramer offered up his pick for the best stock trading in the $10 to $50 range. That honor went to GT Advanced Technology (GTAT), a stock that's up 84% so far in 2014.

Cramer said GTAT should only be bought for speculation, which means investors mustn't buy all at once and must use limit orders to avoid chasing shares higher.

What makes GTAT so exciting? The company was primarily a solar and LED equipment supplier up until a few months ago, when the company's sapphire technology caught the eye of Apple (AAPL), which already uses sapphire, the second-toughest material on Earth behind diamonds, for its fingerprint readers and camera lenses.

Apple offered GTAT a $578 million loan five months ago, presumably to allow the company to significantly ramp up its sapphire production with a new plant and supply Apple with more sapphire for its products. If that happens, Cramer said shares of GTAT would be worth significantly more than they trade today as 2014 could become the year the company becomes profitable.

Mr. Volatility

In a special interview, Cramer sat down with Robert Whaley, creator of the CBOE Market Volatility Index or the VIX, as it's known by many, and an adviser to AccuShares, which is close to introducing a new exchange-traded fund based on the VIX.

Whaley explained the VIX is simply a measure of the volatility in the market, which is largely based on investor fear and uncertainty. However, all of the ETFs currently based on the VIX are correlated to the trading of futures indices, which slowly lose value over time as they are reset daily.

Whaley noted that some VIX-based ETFs have lost 99% of their value since their inception, and certainly don't trade along with the VIX as novice investors would expect. That's why he's been working with AccuShares to offer a new ETF, one that is based on the VIX and behaves as investors would expect.

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