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Every once in a while, the market makes a mistake so bad that you can't help but try to make money off it, Jim Cramer said Tuesday on his "Mad Money" TV show.

This is why he suggested taking a look at

Teva Pharmaceutical

(TEVA) - Get Teva Pharmaceutical Industries Ltd. Report

. Ask Cramer about Teva and he'll usually tell you to sell the stock, he said. But today is different.

Teva is the most heavily owned Israeli stock, and it's down because Israeli Prime Minister Ariel Sharon's medical condition has raised general concerns about stability in the Middle East, Cramer said.

"It's been beaten up by the same risks keeping all Israeli stocks down right now," he said. But it's about to close a deal to buy the U.S. company



, which will increase Teva's exposure in America while lessening its exposure to the regional risks that have been weighing on the stock.

Plus, Cramer said that the business itself was solid, with the company involved in proprietary multiple sclerosis and rheumatoid arthritis treatments.

He told a caller that the company will likely not face serious, additional regulatory concerns once it is tied with Ivax.

And he said that Peru is another place to start looking for stocks that are down because of geopolitical concerns, which he believes are overdone.

China Port Authority

Another international play is

Hutchison Whampoa

TheStreet Recommends

, Cramer said, because the company is one of the best China plays around.

The company's American depository receipts (ADRs) trade on the pink sheets in the U.S., so he recommends buying the company in Hong Kong, where it is one of the largest companies on the Hong Kong Stock Exchange.

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Hutchison is involved in telecommunications, property, retail, energy and ports, and Cramer said that the company's port exposure is what makes it a buy.

"No one ever thinks about ports, but we'd better get started," Cramer said, because, he claims, it's the best way to play globalization.

It's also the best way to play China, he said. The company operates 41 ports around the world, including five of the world's seven busiest container ports. And as long as China continues to be the manufacturer to the world, it will have to ship out the products and the port business will make a killing.

Shopping Finds in Canada

While "Mad Money" is not a political show, Cramer told viewers that they need to start strategizing should conservative candidate Stephen Harper win the prime minister's seat in Canada.

The Canadian dollar will strengthen, he said. And there's a good chance that Harper and the conservatives could eliminate the national sales tax.

That would make major Canadian department store

Hudson's Bay Company

a buy, he said, telling viewers to pick it up on the Toronto Stock Exchange.

U.S.-based financier Jerry Zucker has been trying to buy Hudson's Bay, but the company had enough confidence "to tell him to get lost or pay more," Cramer said. He sees more offers down the road and believes that the company knows its worth and will say no.

But every time it gets another bid, the stock will go up, he said.

Joe Granville Redux?

In a Jan. 12 piece on


Granville, Cramer and the Second Coming, Seabreeze Partners President and

Street Insight

contributor Doug Kass compared Cramer to Joe Granville, a stock big shot who faded into obscurity by the mid-1980s.

Cramer, who responded to Kass in a

column of his own, welcomed Kass to the show to ask him why he made the comparison.

Kass said that while both Granville and Cramer are market gurus of sorts noted for their wild antics, Granville was a "one-trick pony" while Cramer has professional accomplishments at Goldman Sachs to back up his Street savvy claims.

But Kass said that the most worrisome similarity was that between Granville's zealous following and investors' response to Cramer's live stock recommendations on "Mad Money." Also, Kass pointed to the way the market used to instantaneously respond to Granville's cries to sell.

His worry is that unthinking investors who take Cramer's ideas as gospel could be a microcosm of a market that has driven fear and doubt away and may not be ready for a decline.

So, Kass warned viewers, don't get too giddy.

To view Cramer's interview with Kass, click here.

Lightning Round

Cramer was bullish on





(QCOM) - Get Qualcomm Inc Report


Finish Line






Hansen Natural



Birch Mountain Resources



Range Resources

(RRC) - Get Range Resources Corporation Report


Southwestern Energy

(SWN) - Get Southwestern Energy Company Report


Devon Energy

(DVN) - Get Devon Energy Corporation Report



(APC) - Get Anadarko Petroleum Corporation Report



(TEX) - Get Terex Corporation Report








MEMC Electronic Materials



Whole Foods



Micron Technology

(MU) - Get Micron Technology, Inc. Report


Intuitive Surgical

(ISRG) - Get Intuitive Surgical, Inc. Report


El Paso



Cramer was bearish on


(DSW) - Get Designer Brands Inc. Class A Report


Top Tankers



Trimble Navigation

(TRMB) - Get Trimble Inc. Report


JLG Industries




(SIFY) - Get Sify Technologies Ltd. Report


RSA Security



Martek Biosciences



Wild Oats






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

click here.

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

clicking here


At the time of publication, Cramer was long Motorola, Qualcomm, Schering-Plough.

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.