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NEW YORK (TheStreet) -- Housing can work wonders for our economy, Jim Cramer told his Mad Money viewers Tuesday, but don't expect it to buoy the entire stock market. There are simply too any stocks that are levered to overseas issues, he continued, and housing alone cannot stem those fears.
Yes, the markets were once again tied to China, Cramer explained, where investors who once thought the Chinese knew what they were doing now see a series of "silly" moves that at best will only slow that country's massive stock losses. A weak China has repercussions for everything from financials to smart phones to commodities of all kinds, and that impacts a big swath of U.S. companies.
Add to that falling commodity prices, including a continued slide in oil, and it's easy to see a market that's rightfully under pressure on a daily basis.
But then there's housing, the one bright spot in the market. Housing also impacts a big swath of stocks, from the homebuilders to the mortgage makers to retailers likeHome Depot(HD) - Get Report and everyone that makes the tools and furnishings that go into them.
Unfortunately, for as great as the housing market is shaping up to be, it's simply not enough to save the entire market from all that ails it, Cramer concluded.
Executive Decision: Jim Hughes
For his "Executive Decision" segment, Cramer sat down with Jim Hughes, CEO of First Solar(FSLR) - Get Report, the solar energy stock that delivered a monster earnings beat this quarter, propelling its stock up 16% over the past month.
Hughes said First Solar continues advancing its aggressive technology plan, lowering solar energy's cost from between 7 cents to 8 cents per kilowatt just a few years ago to between 4 cents and 5 cents today.
That means solar panels today deliver more more from a smaller footprint at a lower cost than ever before, Hughes added. First Solar is not done because new technologies continue to flow down to the company's production lines.
Solar energy is moving from a niche market into the mainstream, Hughes said, and as costs come down solar becomes more economical in more parts of the country.
Investors looking for yield should consider First Solar's recent spinoff, named 8point3 Energy Partners (CAFD) .
There's Luck and There's Investing
If you own a stock on the hopes of a takeover bid, you might get lucky, Cramer told viewers. But luck is not an investment strategy.
Cramer reminded viewers that they should never own a stock unless the fundamentals are strong, because if they're not, a potential acquirer probably won't want to buy them.
Investors are clamoring for someone to buy Twitter(TWTR) - Get Report, a stock Cramer owns for his charitable trust, Action Alerts PLUS, but who would buy Twitter in its current state knowing that its stock is only going to get cheaper?
Likewise with the oil stocks. Sure, there are a ton of tiny oil companies out there, but their stocks are plummeting and their balance sheets are stretched. That's not exactly what a buyer is looking for.
Investors in Zulily (ZU) got lucky, but that stock fell well below its IPO price before getting snapped up at a bargain basement price.
Cramer said investors must always ask themselves, would they like the stock if it weren't for a takeover? If the answer is "no," then it must be sold.
Executive Decision: David Aldrich
In his second "Executive Decision" segment, Cramer sat down with David Aldrich, chairman and CEO of Skyworks Solutions(SWKS) - Get Report, a stock that's off 24% from its June highs and now trades at just 14.5 times next year's earnings.
Aldrich clarified that Skyworks only derives between 20% to 25% of its revenue from China, and not the 83% that has appeared in some recent publications. He said so far the company hasn't seen any slowing of demand for 3G and 4G smart phones in China, but it is seeing massive shifts in market share among phone manufacturers. That is not a problem for Skyworks because it sells to every manufacturer.
Aldrich noted Skyworks now derives about 25% of its revenue from non-mobile sources, things like connected cars and wearable devices, both of which are in their early innings.
Aldrich said Skyworks remains a play on the move towards faster 3G and 4G devices that can conduct payments and stream audio and video. Even in China, only a fraction of consumers has upgraded to these newer devices, leaving Skyworks with lots of room to grow.
In the Lightning Round, Cramer was bullish on
Cramer was bearish on Planet Fitness(PLNT) - Get Report, Whiting Petroleum(WLL) - Get Report, Papa Murphy's(FRSH) - Get Report, Chimera Investment(CIM) - Get Report, SunEdison (SUNE) and Affymetrix (AFFX) .
Executive Decision: Irwin Simon
In his final "Executive Decision" segment, Cramer sat down with Irwin Simon, chairman and CEO of Hain Celestial(HAIN) - Get Report, the organic food maker that saw its shares fall sharply by 6.9% as investors fretted over lower sales and gross margins.
Simon noted that Hain's total sales were up 20% year over year, something that not many consumer packaged goods companies can say. Healthy eating is not a fad and more people are buying healthy products at more places than ever before.
When asked about gross margins, Simon responded that price is not everything and healthy also has to be affordable. Hain remains committed to growing volumes, he said.
Finally, when asked about market share and increased competition, Simon admitted that healthy is a crowded space, but he said there's a big country out there that needs to eat. Where Hain is taking share from, he said, are the traditional food segments, like milk.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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At the time of publication, Cramer's Action Alerts PLUS had a position in TWTR.