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Investors should put their money in bull markets with staying power, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

Cramer said he identified five of these bull markets in his new book,

Stay Mad for Life

, but the one he took time to discuss on the show was the aerospace and defense sector.

In particular, he devoted his attention to one defense stock:

Raytheon

(RTN) - Get Report

, a company that makes a lot of high-tech defensive gear, particularly missiles.

He said Raytheon and other defense contractors are doing well because the U.S. has become the arms merchant to the world. He also said Republicans love to spend money on defense while the Democrats also support defense spending because they desperately want to look tough.

Right now defense stocks are great because they are the "ultimate defense" in a slowing economy, Cramer said. They have nothing to do with subprime or CDOs, and "regardless of how the economy is doing, these are the darlings of Wall Street," he said.

Investors can see years into the future how much money these companies are going to make because of long, drawn-out government contracts, he said.

Cramer noted he's already recommended

General Dynamics

(GD) - Get Report

,

Alliant Techsystems

(ATK)

,

L-3 Communications

(LLL) - Get Report

and

Lockheed Martin

(LMT) - Get Report

, all of which are up.

In addition,

Northrop Grumman

(NOC) - Get Report

also has caught up to the pack.

Cramer believes it's Raytheon's turn now. Expectations for the company are far too low, he said. Having mastered the game of underpromising and overdelivering, the company recently gave lowball guidance, which it should be able to beat, he added.

In addition, Raytheon has a "fabulous" buyback going and significant opportunities to grow even more internationally, he said.

Investing in Oil and Oil Service

The oil and oil service group is a bull market that is attractive as a long-term investment, Cramer told viewers. The best way to play this is with

ConocoPhillips

(COP) - Get Report

, said Cramer, who owns the for his charitable trust,

Action Alerts PLUS.

The oils are down now relative to the sky-high price of crude, partly because of political reasons and also because talk of new taxes on the oil companies has some people taking profits, he said.

However, "there's a simple case for oil," Cramer said. "We're running out of it."

If oil comes down, people should back up the truck on it, he advised. In fact, Cramer said he'd buy some soon to take advantage of the recent lower prices.

In this group, Conoco not only trades at a discount, but the company is a big play on natural gas, which has been chronically undervalued for a long time, he pointed out. Also, unlike the other major oil companies, it doesn't have contracts with corrupt Third World countries, he said.

Moreover, Conoco is operating on the belief that high oil prices are here to stay, Cramer said. "High oil is about supply or the lack there of," and Conoco is the way to own it.

Cypress Semiconductor's New Chip

Many people are squeamish about owning shares of semiconductor companies now, but Cramer said

Cypress Semiconductor

(CY) - Get Report

is the stock in this sector that people should take a look at and consider buying.

He welcomed the company's CEO T.J. Rodgers to the show and asked him about the products Cypress is coming out with.

Rodgers said the company's "hottest new product" is an "extraordinarily flexible" chip that can be used in various products such as the e-bike, the Nordic track treadmill and the iPod.

Rodgers said Cypress is not seeing slowdowns in its end markets. In fact, he added, the company recently had a "blockbuster" quarter and is seeing strong consumer demand.

According to Rodgers, Cypress also owns a little more than half of SunPower. He said the businesses are different enough that when the tax restrictions come off, Cypress plans to distribute SunPower in some way to shareholders so they can take advantage of that holding.

Cramer called Cypress "the cheap way" to own SunPower. With it, investors get Rodgers and a great company, he said.

The Risk of Making Too Much Money

Making too much money in a short amount of time is a disease that infects portfolios, Cramer said, adding that fortunately, it's easy to detect and fix.

If market players made too much last week, it could be because they are overexposed in the troubled housing stocks, Cramer said. That is when plays like

MBIA

(MBI) - Get Report

and

MGIC Investment

(MTG) - Get Report

were up significantly.

These stocks already have gone lower, but are likely to come down even more because there is every reason for them to go down and no reason for them to go up, he said. Therefore, they should be sold right now.

"Making too much money also means you're not diversified enough," Cramer said.

'Sudden Death'

During the "Sudden Death" round, Cramer was bullish on

EMC

(EMC)

, which he owns for Action Alerts PLUS.

He was bearish on

Novell

( NOVL) and

Endeavor Acquisition

( EDA).

Lightning Round

Cramer was bullish on

Walt Disney

(DIS) - Get Report

,

Brookfield Asset Management

(BAM) - Get Report

,

Hewlett-Packard

(HPQ) - Get Report

,

SunPower

(SPWR) - Get Report

,

First Solar

(FSLR) - Get Report

,

Johnson Controls

(JCI) - Get Report

,

J. Crew

( JCG) and

Costco

(COST) - Get Report

.

Cramer was bearish on

Wolseley

( WOS),

Lowe's

(LOW) - Get Report

,

Fannie Mae

( FNM),

Automatic Data Processing

(ADP) - Get Report

,

Dell

(DELL) - Get Report

,

LDK Solar

(LDK)

,

Cabela's

(CAB)

,

South Financial Group

( TSFG),

Home Depot

(HD) - Get Report

and

Solarfun Power

( SOLF).

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.

At the time of publication, Cramer was long ConocoPhillips, Hewlett-Packard and EMC.

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."

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