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"The markets will remain difficult to navigate," Jim Cramer told viewers of his "Mad Money" TV show Thursday.

He defended calling the bottom in the markets on last night's show. In making the call, he said he did not mean that all stocks had bottomed, but rather that the time is right to begin buying stocks as they go down.

Cramer then returned to a theme which he said investors should be celebrating 365 days a year, the wind and solar stocks. "Wind and solar stocks are transcending the weakness in oil," said Cramer, indicating that the strength in these sectors is genuine, and will continue even if oil hits his ultimate target of below $120 a barrel.

Cramer said he expects at least four more years of strength in the green stocks, and reiterated his buys on

Owens Corning

(OC) - Get Report

,

Trinity Industries

(TRN) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS, and

Mastec

(MTZ) - Get Report

.

Owens Corning recently predicted its wind business will be growing in the high double-digits for at least the next decade. With up to 18 tons of fiberglass used to produce a single windmill, Cramer said Owens' composite fiberglass business should easily be able to achieve those targets.

Cramer called Trinity his favorite in the wind power business. The company's stock was up 6.7% today alone on the back of strong earnings, and Trinity more than doubled its wind tower backlog to almost $1.5 billion. With wind power only accounting for 10% of the company's revenues, Cramer said he expects wind to overtake Trinity's flagship railcar business in just a few short years.

Cramer: Don't Dump Your Cup

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Finally, Cramer reiterated his buy on Mastec, a company whose stock is up 18.9% since it was added to his "Windex" index of wind power stocks.

In the solar industry, Cramer reiterated his buy on

First Solar

(FSLR) - Get Report

, a company he called the best of breed in the solar industry. The company recently posted earnings of 85 cents a share, blowing away estimates of 58 cents a share, a 47% upside surprise.

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He said First Solar is not a maker of residential rooftop solar panels, but a provider of large-scale industrial solar facilities. The company manufactures solar cells at a price of just $1.42 per watt, compared to traditional cells which average $2.50 per watt.

Cramer did warn that Congress' eighth delay in passing a bill to provide investment tax credits for wind and solar may hurt both industries to the tune of $11 billion in lost investments. However he remains confident that the measure will eventually pass.

Taking the Long View

Cramer talked with Peter Miller,

National Oilwell Varco

(NOV) - Get Report

chairman, president and CEO, about the company's outlook amidst falling oil prices.

Miller said the demand for new oil rigs is not declining with oil prices. He said the company's backlog extends well into 2011.

Even with oil prices as low as $110 or even $100 a barrel, Miller said National Oilwell Varco would not be affected. He explained that many of the orders in the company's backlog were placed over two years ago when prices first hit those levels.

Miller touted the company's current oil rigs as extremely safe and environmentally friendly. He said the big offshore oil spill of 1969 just couldn't happen with today's equipment.

Cramer reiterated his buy on National Oilwell Varco, calling it the "single best drilling-related company to own."

A Major Blockbuster in the Making

In the "Sell Block" segment, Cramer looked at a recent

New York Times

article which reported that the instances of Type 2 Diabetes in children increased 10% to 12% a year. Prescriptions for these children between 2001 to 2007 were up 151%.

In light of the news, Cramer released

Novo Nordisk

(NVO) - Get Report

, the global leader in insulin, from the sell block, called the company a buy.

Cramer called the company's new diabetes and weight-loss drug, Liraglutide, one of the biggest prospective drugs he's ever seen. With approval expected for the drug in the second quarter of next year, Cramer said now is the time to get into Nordisk before the anticipation for the drug grows.

Liraglutide's slow release formula allows for it to be taken just once daily compared to twice daily for the closest competitor, Byetta.

Cramer said Liraglutide appeal also extends beyond diabetes. Novo Nordisk released a study back in June showing that overweight patients without diabetes lost an average of 16.5 to 17.6 pounds. He called the drug a blockbuster.

Mad Mail

Cramer defended his positive call on

Research In Motion

( RIMM) by again stating that the market is big enough for both it and

Apple

(AAPL) - Get Report

's iPhone.

Sudden Death

In Sudden Death, Cramer was not bullish on any stocks. He was bearish on

China Telecom

(CHA) - Get Report

and

Grey Wolf

( GW).

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Lightning Round

Cramer was bullish on

Petrohawk Energy

(HK)

,

Allergan

(AGN) - Get Report

,

Coca-Cola

(KO) - Get Report

,

Pepsico

(PEP) - Get Report

,

Frontline

(FRO) - Get Report

and

Nordic American Tanker

(NAT) - Get Report

.

Cramer was bearish on

Mastercard

(MA) - Get Report

,

Alon USA

(ALJ)

,

Star Bulk Carriers

(SBLK) - Get Report

,

Nordic American Tanker

(ERJ) - Get Report

,

CBS Corp

(CBS) - Get Report

and

ACE Limited

(ACE)

.

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

clicking here

.

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

.

At the time of publication, Cramer was long Trinity Industries.

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.