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NEW YORK (

TheStreet

) -- "Let today be a lesson to you, you need more than just good stocks in your portfolio," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday, at the end of yet another roller-coaster day in the markets.

Cramer said even good stocks get hit on hideous days like today, and that's why investors need stocks with high dividend yields for protection or stocks that have what Cramer deemed a "special situation."

In the high dividend camp, Cramer once again recommended stocks like

Annaly Capital

(NLY) - Get Report

, which sports a 15% dividend yield, or

MarkWest Energy

(MWE)

, which currently pays an 8% dividend.

As for stocks in a "special situation," Cramer turned to

Apple

(AAPL) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS. He said that Apple was able to close up today, despite everything else in its sector getting crushed. He said that was possible because Apple is special.

Cramer explained that the earnings estimates for Apple are simply too low, as evidence by Deutsche Bank going "street high" and bumping its estimates for the iPhone and iPad maker from $16 a share to $18 a share. Cramer said that means that Apple, which opened today trading at 21 times earnings with a 16% growth rate, is now looking a whole lot better.

Cramer said he expects Apple shares to sell off at the iPhone 4 debut on Thursday, but after that it will be back to the races. He said the analysts just can't keep up with Apple's growth. Original estimates for its iPad were only one or two million units its first year. Apple announced today that its sold three million units since its debut 80 days ago.

Cramer said he thinks Apple can earn as much as $19 a share next year, meaning it's selling at a paltry 14 times earnings, and that's before deducting the company's cash hoard of $65 a share.

Salesforce's Chatter

In the "Executive Decision" segment, Cramer once again spoke with Marc Benioff, chairman and CEO of

Salesforce.com

(CRM) - Get Report

, one of Cramer's recently featured C.A.N.D.I.E.S. high-growth stocks.

Benioff introduced a new product called "Chatter" to the Salesforce platform, saying it was the most exciting product he's ever worked on. With Chatter, Benioff said he's moving enterprise software not only into the cloud, but also into the mobile and social space, allowing people throughout the enterprise to collaborate and communicate more effectively.

Benioff also highlighted the company's efforts in Japan, Salesforce's second largest and fastest growing market. He said in Japan, Salesforce has been working with Japan Post, which has 100,000 users in 25,000 locations using over a dozen Salesforce applications. He said that now with Chatter, all of these users can collaborate on projects and communicate instantly.

When asked about Salesforce's other international opportuntities, Benioff explained that the three biggest markets for enterprise software are the U.S., U.K., and Japan, and any company hoping to be successful needs to nail those three markets first, which is exactly what Salesforce is doing before expanding further.

Cramer continued his high praise for Benioff and Salesforce.com as well as its stock.

Off the Charts

In this segment, Cramer went head to head with colleague Dan Fitzpatrick over the chart of

Philadelphia Semiconductor Index

( SOX), and whether this index is a good proxy for all things that are semiconductor.

Looking at the weekly chart, Fitzpatrick saw a mixed bag. After running up 134% from late 2008 to 2010, the SOX has pulled back, teetering on a top that could be a reversal, or a consolidation before another move higher. Fitzpatrick said if the SOX can hold it's recent floor, that would be good news, but if not, then the selling will continue.

The SOX daily chart confirmed this trend. Fitzpatrick said the index is range bound between 325 and 380. In order to be bullish, it must rally 35 points, which he doesn't think is possible. Otherwise, the SOX must retest its 325 low before Fitzpatrick could be bullish.

Turning to the fundamentals, Cramer said the SOX is made up of different companies with very different prospects, and he's not a buyer of the index, but he is a buyer of certain stocks.

Cramer said he's a buyer of all things related to Apple, and that includes

Cirrus Logic

(CRUS) - Get Report

and

Sandisk

(SNDK)

.

For the broader smart phone market, Cramer gave the nod to

Broadcom

and

Xilinx

TST Recommends

(XLNX) - Get Report

. And for general semiconductor exposure, Cramer recommended Action Alerts PLUS stock

Intel

(INTC) - Get Report

with its 3% yield.

Cramer said not all semiconductor stocks are created equal, and that's why he's sticking with the stocks that are working, and throwing the rest of the SOX back into the laundry.

BP Bankruptcy Possible

In his "Eureka Moment" segment, Cramer sounded off against the belief that

BP

(BP) - Get Report

is simply too large to go bankrupt. Bankruptcy, he said, is a real possibility, and it's not a total fantasy to think that the oil spill in the Gulf could not easily swallow the entire company.

Cramer said his Eureka Moment came when he realized that the BP spill should not be compared to the Exxon Valdez of yesteryear, but rather to the asbestos industry, which was totally wiped out under the sheer volume of claims it faced.

Cramer said everyone thought the asbestos industry would be safe despite the endless denials. But one by one, the manufacturers, the distributors, the installers, and eventually everyone who ever came in contact with the stuff, even tangentially, l disappeared, he said.

Cramer said BP's stock is simply not investable. He said the damages caused by this spill are limitless, and the claims will continue coming for decades to come. No single company can possibly survive, he said.

Lightning Round

Cramer was bullish on

Baidu.com

(BIDU) - Get Report

,

Ross Stores

(ROST) - Get Report

,

TJX Companies

(TJX) - Get Report

and

Tenet Healthcare

(THC) - Get Report

.

He was bearish on

Deer Consumer Products

(DEER)

,

Chico's

(CHS) - Get Report

and

Walgreens

(WAG)

.

-- Written by Scott Rutt in Washington D.C.

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC

.

Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by

clicking here.

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

.

At the time of publication, Cramer was long Apple.

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.