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"We're not done going down," Jim Cramer cautioned viewers of his "Mad Money" TV show Tuesday.

He said the markets are locked in a range now that could see the

Dow Jones Industrials

slip to the high 7,000's before it begins to recover.

Why have the markets fizzled out? Cramer placed blame on the oil patch, one of the three leaders, along with technology and the financials, that help propel the market higher since March. He said with the news of price manipulation in the oil futures markets, investors just can't trust the price of oil right now, nor the companies that go along with it.

"We've lost oil," said Cramer, "and we need a new market leader to complete the trifecta." He predicted that health care will become that new market leader, but not until the market is done correcting.

Health care, he said, is the only industry that can have growth, even in a slowdown. After the correction, he said, investors will be able to buy health care on the cheap.

Cramer's healthcare favorites include:

MedcoHealth Solutions


for cost containment,

Quest Diagnostics

(DGX) - Get Report

for diagnostics, and


(MDRX) - Get Report

for electronic record keeping.

He also gave a nod to

St Jude Medical



Boston Scientific

(BSX) - Get Report





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For drug stocks, Cramer recommended two names he owns for his charitable trust,

Action Alerts PLUS,


(GILD) - Get Report


Abbott Labs

(ABT) - Get Report


A Speculative Retail Play

On the heels of last week's takeover bid for retailer

Tween Brands

( TWB), Cramer went shopping for the next undervalued retailer that could be ringing up profits for investors.

His recommendation? It's

Charming Shoppes

(CHRS) - Get Report

, purveyors of the Lane Bryant and Fashion Bug chains, as the prefect speculative retail play.

According to Cramer, Charming Shoppes is a broken stock, but not a broken company. The company is not only taking advantage of lower gas prices to spur sales, but is also the market leader in plus size women's apparel, a segment that continues to grow with America's waistlines.

Additionally, Cramer said Charming Shoppes is also a turnaround story. Although Charming may be a $3 stock, the company has $1.32 in cash on the books. And while same store sales were down 13% in its last quarter, operating income was flat, with improving margins. Cramer said the company's new management team is aggressively cutting both costs and inventory.

Cramer said Charming Shoppes has two ways to win. The company has both improving fundamentals, and is a ripe takeover target for other struggling retailers.

Off the Charts

Cramer went head to head with colleague Dan Fitzpatrick over the chart of spice maker


(MKC) - Get Report


According to Fitzpatrick, the chart of McCormick has turned bullish, with the stock breaking its 200-day moving average on high volume. After eight months of trading sideways, the once resistance level is now offering support for the stock.

But Cramer disagreed, stating that there's a lot not to love about McCormick's latest quarter. According to Cramer, McCormick has disappointing sales across the board, with currency translation taking the wind out of the company's profits.

Cramer said he's also worried about


(WMT) - Get Report

taking it's private label spices to the national market and crushing McCormick's margins even further.

Cramer said in his opinion, the recent buyers of McCormick's stock are betting on the global economy worsening and defensive stocks coming back into vogue. But if that were the case, Cramer said he's rather be in higher yielding and more profitable food stocks, like


( KFT),

General Mills

(GIS) - Get Report

, which he also owns for his

Action Alerts PLUS portfolio, or


(HSY) - Get Report


Outrage of the Day

Cramer sounded off against the oil futures market, calling it a "total farce." He charged that those who say the oil futures are too big to be manipulated are simply "full of it."

Cramer said the problem with the oil futures market is simple: Traders can trade without putting any money down. He said the margin limits are too low, and even a simple $10 million trade, like the one that same to light this past weekend, has the power to impact prices.

Cramer said those in the business of trading futures have no incentives to change the status quo, and it's the consumer that pays the ultimate price. He said the futures lobby is a strong one, and one not likely to be defeated, but he urged that someone at least try.

Lightning Round

In the Lightning Round, Cramer was bullish on

Nordic American Tanker

(NAT) - Get Report





Cramer was bearish on

Research In Motion

( RIMM),


(CLF) - Get Report



(COP) - Get Report


Navios Maritime

(NM) - Get Report


Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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

clicking here


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


At the time of publication, Cramer was long Gilead, Abbot Labs, General Mills.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.