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) -- Yes, the

market's decline

 today was unsettling, Jim Cramer admitted to his

Mad Money

TV show viewers Monday. But as far as Cramer's concerned, it's still business as usual.

Cramer said there were a number of reasons why the markets took a pause today. Friday's initial public offering of Alibaba (BABA) - Get Report certainly created a euphoria the markets haven't seen since 2001, but that wasn't the only problem the markets had to deal with in today's session.

The news out of China that leaders there seem to be content with slower growth was unexpected, Cramer said. Even though China just cut interest rates last week, the markets still took the news of slower growth as a sudden surprise. A slowing China is bad for the mining and materials stocks as well as the industrials and the industrial equipment makers such as Caterpillar (CAT) - Get Report .

The markets were also dealing with lower oil prices. Oil prices need to stay high if our oil stocks are going to continue their march higher, Cramer said. In the $80 a barrel range margins get squeezed, he explained, and in the $70s drilling will dry up altogether.

But slower growth and falling oil prices aren't all bad, Cramer concluded. Lower oil means cheaper gasoline, which is good for retail and restaurants. Slower growth means interest rates stay low, which is good for those buying homes.

Cramer said his bottom line is he's not overly worried about today's decline, and he'd continue picking at quality stocks at these lower prices.

Shifting (Fracking) Sands

With an analyst declaring a "super cycle" in fracking sand -- the sand used to keep cracks in horizontal oil wells open while the oil is pumped out -- Cramer said it's time investors head for the exits.

Cramer told viewers that, in general, anytime they hear the phrase "super cycle," whether it be in sand, oil, coal or some other commodity, the move has typically already happened. That's certainly been the case with fracking sand, with stocks like Hi-Crush Partners (HCLP) up 56% for the year and U.S. Silica (SLCA) - Get Report up 161% over the past 12 months.

Cramer said the problem with both of these stocks is they're very richly valued, so any misstep will result in huge declines in the stock price. It may seem hard to imagine, he continued, but fracking sand is, after all, just a commodity, which means eventually if prices get too high oil drillers will simply use something else.

Of the fracking stocks, Cramer said he's only speculate with Emerge Energy Services (EMES) - Get Report , which is protected by a solid 3.7% dividend yield. He also endorsed Union Pacific (UNP) - Get Report as a way to play the fracking sand "cycle," because no matter where the sand comes from it needs to be shipped via rail.

The 3 Best IPOs of the Year

With the Alibaba (BABA) - Get Report IPO now behind us, Cramer said it's time to recap his top three newly minted IPOs of this year.

Coming in at number three is, no surprise, Alibaba. Cramer said he didn't like this stock's big jump on Friday, otherwise it would've been his top pick. But there's no denying Alibaba's cheap valuation at 36 times earnings and its growth prospects in China.

In the number two spot is GoPro (GPRO) - Get Report , a stock that's also up big, 117%, since its IPO just three months ago. Cramer said GoPro is expensive at 50 times 2015 earnings estimates, but on a pullback he'd be a buyer going into the holiday season.

Finally, in the top spot as Cramer's favorite newly minted stock is Mobileye (MBLY) , a company developing proprietary technology to help turn the self-parking cars of today into the self-driving cars of tomorrow. Cramer said this stock's recent decline makes it very attractive.

Cramer said he'd be on the lookout for all three of these names the next time the markets see a big decline and shares go on sale.

Global Payments: Visa and MasterCard

The media are declaring credit cards to be obsolete in the wake of Apple's (AAPL) - Get Report new Apple Pay mobile payment initiative. But Cramer said that rumors about the demise of plastic in our wallets may be greatly exaggerated, to paraphrase Mark Twain. That's why Cramer kicked off a week-long series on our global payment network to see who's really in danger of extinction.

First on the list to examine were the juggernauts of Visa (V) - Get Report and MasterCard (MA) - Get Report . Cramer said that while many are worried that plastic is dead, he's reminded that both companies are partners with Apple, a stock he owns for his charitable trust, Action Alerts PLUS.

Visa and MasterCard are about a lot more than just the cards in our wallet, Cramer explained -- they're about the huge global network of merchants that run transactions through them every day. With the proliferation of mobile payments these networks are only getting bigger, and that means more earnings for both companies.

Of the two, Cramer said he prefers Visa, with its multiple of 20 times earnings and 17% growth rate, over MasterCard, which trades at 21 times earnings with a 16% growth rate. However, he noted that both companies are great financial stocks to hold because they're not held hostage by low interest rates.

Lightning Round

In the Lightning Round, Cramer was bullish on Medivation (MDVN) , American Railcar (ARII) - Get Report , Trinity Industries (TRN) - Get Report , Greenbrier Companies (GBX) - Get Report , Exact Sciences (EXAS) - Get Report , Restoration Hardware (RH) - Get Report and Norfolk Southern (NSC) - Get Report .

Cramer was bearish on Transocean (RIG) - Get Report , EOG Resources (EOG) - Get Report , Alpha Natural Resources (ANR) and General Electric (GE) - Get Report .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the rumors that Clorox (CLX) - Get Report may be a takeover target.

Is this really news? No, Cramer said, because Clorox has been treading water at best, resorting to stock buybacks and dividends to buoy its share price but failing to make a transformative move into the natural and organic space, where it really needs to be.

Cramer said Clorox' acquisition of Burt's Bees a few years ago was a step in the right direction but was clearly not enough in a market where the competition is fierce.

Is a takeover possible? Certainly, Cramer concluded. But is the stock a buy after its 7% rally on takeover speculation? Certainly not.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.