Cramer said he wasn't surprised by the correction in the Chinese stock market. "China was this giant bubble because they added about 20 million retail [brokerage trading] accounts. As soon as they got the money, put it into an account they bought stocks. Didn't matter what they bought," said Cramer. "They levered up, this is what happens. It was ridiculous what the Chinese did -- they should never have allowed all these retail accounts. It's almost as if they don't care," he added.
One viewer asked about Magellan Midstream Partners (MMP) - Get Report, which Cramer said is a good company. But as interest rates go higher, the stock will go lower, he predicted. Within the energy space, Cramer also likesEnergy Transfer Partners (ETP) and Kinder Morgan (KMI) - Get Report.
Is Kraft (KRFT) a buy if its deal with Heinz goes through? Cramer said, "Absolutely yes. Kraft is going to be a winner. They'll be able to make acquisitions. It's a terrific situation." Heinz (HNZ) and Kraft agreed to merger in March, and Kraft shareholders are set to vote on the deal next week.
Cramer was asked if the new Trans-Pacific Partnership will help Nike (NKE) - Get Report move to new highs. He said Nike stock is a buy because its direct-to-consumer business is great and the company is hitting on all cylinders.
Another viewer asked about whether to sell a position in Keurig Green Mountain (GMCR) . Cramer commented, "They had a horrible quarter, maybe the worst of any company during the year." He added that at a certain point, Coca-Cola (KO) - Get Report might buy the company out. He suggested owningMonster Beverage (MNST) - Get Report, placing a $162 price target on the stock.
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At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held ETP and TWTR.