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In a "Mad Money" show devoted to helping market players determine the type of investors they are, Jim Cramer told viewers Tuesday to check out an article in that morning's

New York Times

.

According to "Federal Panel to Review Use of Artery Device," the Food and Drug Administration is convening a panel this Thursday that will ultimately determine whether drug-coated stents, medical devices used to open clogged heart arteries, stay on the market.

This is a story he believes people can play in one of two ways: with

Boston Scientific

(BSX) - Get Report

or with

Johnson & Johnson

(JNJ) - Get Report

, a stock he owns for his

Action Alerts PLUS charitable trust.

The choice offers "the perfect opportunity" for people to figure out what kind of investors they are, he said. The question here has nothing to do with Boston Scientific or Johnson & Johnson, but instead it has everything to do with what kinds of goals individual investors have and what kind of personalities they possess, Cramer said.

Together, Boston Sci and J&J control 90% of the stent market and have consequently been "punched" down, Cramer said. Cramer believes that the panel should approve the devices, and that creates an opportunity for viewers to make a trade Wednesday morning.

In this case, Boston Scientific is "the higher risk, higher reward trade," he said. If things go well for the company and the FDA panel approves stents, the stock should "soar;" if not it will get "crushed."

Johnson & Johnson, on the other hand, has diversified its business and therefore, it has less riding on the panel's outcome, he said.

If market players want to make the Boston Scientific trade, they need to be comfortable taking a lot of risk and not be afraid of losing a lot of money, Cramer warned.

"Buy it with money you are not afraid to lose and you can afford to lose," he said.

If the panel says that stents are safe and the stock spikes, "you should sell it right then and there," Cramer advised. "Boston Scientific is not an investment, but a trade."

Boston Scientific is risky, but it is also cheap, he went on to say. Although its buyout of Guidant was risky, there's "serious potential there," Cramer said. In addition, even though the company recently had a bad quarter, he believes there is no reason it should repeat it.

There is also an age component to factor in when making a trading decision, he told his viewers. At 51, Cramer said he would not buy Boston Scientific, because he believes someone that age is too old to make such a risky trade. When you're young you have all the time to make your money back, but "once you get older it's better to stay risk averse," he said.

Investor, Know Thyself

As long as people know what they are looking for and the type of money they're trying to make, they can make more rational decisions as to which stocks they should get into, Cramer told his viewers.

Among the factors people should consider when trading are their age, wealth and what they are planning on using their money for, he said. The answers to these questions should affect an individual's investments.

All of these factors are discussed in Cramer's new book,

Jim Cramer's Mad Money: Watch TV, Get Rich

, which hit bookstores today.

Getting back to discussing the merits of stents, Cramer said Johnson & Johnson should not take a big hit if stents are not approved. But at the same time, he said it won't go up very much if they are approved.

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If market players want to get in the stent game but are not comfortable getting in a pure-stents play like Boston Scientific, Cramer advised getting into Johnson & Johnson. He believes this stock should go up regardless of what the panel decides, but it will not go up as much as Boston Scientific if stents are approved.

Even though Cramer said he would have probably bought Boston Scientific here if he was still working at his hedge fund, he understands Johnson & Johnson's stability could make it the preferable choice for most home-gamers as it's more comfortable to get into a stock with less downside.

However, "to know which stock picks are for you, you need to figure out what you're comfortable with and what your aims are," he reiterated. "I can't tell you if you should take the Boston Scientific end or the Johnson & Johnson end."

A Good Apparel Fit

Speculating on a potential takeover is a way to make some extra money in the market, and right now Cramer believes outdoor apparel maker

Timberland

( TBL) is a takeover target worth an investment.

In fact, Cramer believes

VF Corp.

(VFC) - Get Report

"might very well try to buy the company."

When VF Corp.'s CEO Mackey McDonald was a guest on Cramer's

"Mad Money" show last week, Cramer asked him if he would consider buying Timberland. And although the chief executive was not at liberty to give a straightforward answer, he didn't say no and he didn't rule it out.

Over the past few years, VF Corp. has made many acquisitions, and in all likelihood, it should continue to do so, Cramer said. When VF Corp. bought each brand, the company integrated it into its outdoor coalition.

It should be able to get Timberland into more stores as it has "tremendous bargaining power," Cramer said, adding he believes VF could do a lot more for Timberland than Timberland could do for itself.

Moreover, Timberland has hired Goldman Sachs to find a buyer for the company.

Even if it doesn't get a bid, it's OK, said Cramer, because while Timberland's fundamentals could be stronger, they are all right. And although it is having trouble with its brands in the U.S., its sales are up in Asia. Plus, it is sitting on a lot of cash and has a good buyback program, he said.

"VF could do some great things here and I don't see any reason for it not to buy Timberland," he said, adding VF could use the growth and has already made similar company purchases.

Mad Mail & Sudden Death

In his "Mad Mail" segment, Cramer told one letter writer that

Rite Aid

(RAD) - Get Report

has been his favorite speculation. Cramer agreed with the viewer that perhaps the reason the stock's going higher is because the drugstore chain's stores are generally located in areas more easily accessible by foot, unlike

Wal-Mart

(WMT) - Get Report

.

When asked about the

New York Stock Exchange

(NYX)

vs. the

Nymex

( NMX), Cramer said he prefers the NYSE and recommended letting the Nymex come in a little before buying it.

In his "Sudden Death" round, Cramer was bullish on

Boeing

(BA) - Get Report

. He was bearish on

Toll Brothers

(TOL) - Get Report

,

Saifun Semiconductors

(SFUN) - Get Report

and

Textron

(TXT) - Get Report

.

Lightning Round

Cramer was bullish on

Gilead Sciences

(GILD) - Get Report

,

MEMC Electronic Materials

(WFR)

,

Archer Daniels Midland

(ADM) - Get Report

,

Allegheny Technologies

(ATI) - Get Report

,

Cisco

(CSCO) - Get Report

,

Microsoft

(MSFT) - Get Report

,

Lowe's

(LOW) - Get Report

,

Level 3 Communications

(LVLT)

,

KBR

(KBR) - Get Report

,

MasterCard

(MA) - Get Report

and

ConocoPhillips

(COP) - Get Report

.

Cramer was bearish on

Titanium Metals

(TIE)

,

Nortel Networks

( NT),

Alcatel

( ALA),

Finisar

(FNSR) - Get Report

,

Savient Pharmaceuticals

(SVNT)

,

American Express

(AXP) - Get Report

,

Swift Energy

(SFY) - Get Report

and

VeraSun Energy

( VSE).

For more of Cramer's insights during the Lightning Round, click here

.

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here

.

At the time of publication, Cramer was long Goldman Sachs and Johnson & Johnson.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.