Click here for an archive of Cramer's "Mad Money" recaps.

"The markets were looking for a big rate cut from the

Federal Reserve

, and that's just what they got," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

Cramer said there's no reason now not to be bullish and those who sold off were wrong.

He said he's so confident in the market that he would even consider buying a house. A turnaround in real estate is inevitable, he emphasized.

"This cut has given investors an opportunity to make money," Cramer said.

In this market environment, he likes such high-paying dividend stocks as

Altria

(MO) - Get Report

, which just raised its dividend again on Wednesday. Altria is a stock which he owns for his

Action Alerts PLUS portfolio.

He's also a fan of

AT&T

(T) - Get Report

and

Verizon

(VZ) - Get Report

for their dividends.

Cramer also sees a bull market in retail stocks and finds

Costco

(COST) - Get Report

and

Urban Outfitters

(URBN) - Get Report

attractive. He says just about any retailer should benefit from the rate cuts.

Banks and brokers should also go higher in this environment, Cramer said. He said

Wachovia

(WB) - Get Report

is probably the strongest player and noted

Washington Mutual

(WM) - Get Report

is worth hanging onto until they get a bid.

He also sees some value in

Bank of America

(BAC) - Get Report

and even in

Citigroup

(C) - Get Report

. The latter is a stock which he owns for his

Action Alerts PLUS portfolio.

Cramer also had a few new recommendations, including automakers

General Motors

(GM) - Get Report

and

Ford

(F) - Get Report

, both of which Cramer feels will slowly start creeping higher.

Cramer recommended buying any of these names on weakness. "Be glad the market came down," he noted. This is not the time to run away from stocks, but rather the time to run toward them, he asserted.

A Stock That Delivers in Tough Times

Cramer said

Tupperware

(TUP) - Get Report

has been a slow but steady winner since he first recommended it on Oct. 4, 2006. Since then, Tupperware shares have risen 75%.

The company just reported a blowout quarter, beating estimates by 13 cents a share, and was up 18% on a down day in the markets. On top of that, it sports an attractive 2.5% dividend yield.

Cramer said the company can deliver these earnings because 85% of its business is overseas and because it relies on individual sales representatives rather than costly retail outlets.

Rick Goings, chairman and CEO of Tupperware

(TUP) - Get Report

appeared on the show to elaborate on his company's operations.

Goings said Tupperware is indeed a counter-cyclical business that does well when times are tough.

He noted that 40% of Tupperware's business is now beauty products. When Cramer asked Goings about the threat of rising raw costs, the CEO replied that with 70% gross margins, raw costs are not a problem.

Cramer closed by saying he stands behind Goings and would be a buyer of Tupperware.

Don't Be Fooled By One Report

Cramer warned investors not to "get taken when losers report bad numbers." Instead, he says, "stick with the winners."

On Monday's show, he outlined how bad news from cellular equipment maker

Motorola

(MOT)

brought down the shares of its competitor,

Nokia

(NOK) - Get Report

, right before Nokia reported stellar earnings and shot up 5 points.

The same thing is happening, he says, with the wireless companies. Of the big three wireless providers,

AT&T

(T) - Get Report

,

Verizon

(VZ) - Get Report

and

Sprint

(S) - Get Report

, Cramer would only keep AT&T and Verizon. Sprint, he says, "is just a disaster."

On Jan. 18, Sprint pre-announced sizeable downward pressure on subscriber growth, a move which brought down shares of AT&T and Verizon as well. But if you believed the Sprint news, you would've lost out, Cramer warned.

Just one week later, AT&T announced a net gain of 2.7 million new subscribers, compared to a loss of 100,000 subscribers for Sprint. Shortly thereafter, Verizon announced a net increase of 1.9 million subscribers.

"You just can't get enough AT&T or Verizon," Cramer said. Both companies offer safe dividends and are clearly taking share from Sprint.

He says AT&T, at below $35 a share, would be the better value, but warns investors to be careful when Sprint gets ready to announce again. More bad news, he says, could drop all three stocks again.

Mad Mail

In this segment, Cramer told a viewer that although bank stocks will see continued weakness, he would buy

JP Morgan

(JPM) - Get Report

or

Wachovia

(WB) - Get Report

if they fall more than a few points.

A second viewer asked about

Walgreen's

(WAG)

. Cramer said he thinks the business is no good and Walgreen's is going down.

Sudden Death

Cramer was bullish on

Precision Castparts

(PCP)

and

Level 3 Communications

(LVLT)

.

Cramer was bearish on

Pfizer Inc

(PFE) - Get Report

,

Cal Dive

(DVR)

,

Sara Lee

(SLE)

and

Pacific Ethanol

(PEIX) - Get Report

.

Image placeholder title

Lightning Round

Cramer was bullish on

Foster Wheeler

(FWLT)

,

Emerson Electric

(EMR) - Get Report

,

Flextronics

(FLEX) - Get Report

,

Waste Management

(WMI)

,

Republic Services

(RSG) - Get Report

,

PetroChina

(PTR) - Get Report

and

Focus Media

(FMCN)

.

Cramer was bearish on

Under Armour

(UA) - Get Report

and

E*TRADE Financial

(ETFC) - Get Report

.

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 Altria and Citigroup

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.