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NEW YORK ( TheStreet) -- "I want to be more critical of this market," Jim Cramer said Tuesday on  Mad Money, but the skeptics have been repeatedly trampled by the bulls.

Let's face it, the markets are up big, and in a very short period of time, Cramer told viewers. That means investors should be more critical and more skeptical of high-flying stocks. But in the case of Activas (ACT) - Get AdvisorShares Vice ETF Report , the company making a $66 billion bid for Allergan (AGN) - Get Allergan plc Report , shares continue to rise, up 11% since the deal was announced, even though the company is admittedly paying more than it should.

Cramer said it takes years for some stocks to make the move that Activas has made in just days, yet investors continue to pile in.

Investment management firm Blackstone Group (BX) - Get Blackstone Group Inc. Class A Report has been selling off lots of assets recently, including big stakes in Pinnacle Foods (PF) and Hilton Worldwide (HLT) - Get Hilton Worldwide Holdings Inc (HLT) Report . Should that give investors pause? Or is selling off assets exactly what an investment firm should be doing? Cramer said the markets aren't thinking twice, they think it's bullish.

Cramer said this unwavering bullishness continues in the airlines, health insurers, manufacturing and even in the biotech sectors, which is why he continues to recommend stocks including 3M (MMM) - Get 3M Company Report , UnitedHealth Group (UNH) - Get UnitedHealth Group Incorporated Report and Celgene (CELG) - Get Celgene Corporation Report .

Cramer said his bottom line was that he wants to be more critical of all these moves, but being critical just isn't making any money at the moment.

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Bob Lang over the chart of (AMZN) - Get, Inc. Report , the Internet retail giant that historically delivers big profits for shareholders between November and the end of the year.

Using a weekly chart, Lang noted that for four of the past five years, Amazon has rallied hard going into the holidays. The only exception was 2012, when worries over the fiscal cliff put coal in everyone's stocking.

Turning to a daily chart, Lang also noted that Amazon has already rallied hard off its October lows and briefly broke above its 200-day moving average last week before taking a quick breather. This move was made on strong volume. The MACD momentum indicator shows a "bullish crossover" that confirms the move.

The weekly chart of Amazon is also bullish, showing a double bottom in April and October, a pattern that is usually a springboard to higher levels. While the MACD on the weekly chart hasn't yet made a bullish cross, Lang indicated it's very close.

According to Lang, Amazon's move will likely spawn more buying, sending shares to $358. Cramer said he thinks Lang is right and betting against Amazon during the holidays has never been a good move.

Has Retail Peaked?

Stocks that run up ahead of earnings usually decline when they report those earnings, Cramer reminded viewers, which explains how Home Depot (HD) - Get Home Depot, Inc. (HD) Report can report a terrific quarter yet still see its shares down 2% on the day.

Cramer said the euphoria surrounding the retail stocks began with Macy's (M) - Get Macy's Inc Report announcing a cut in forecasts, only to see shares rally. That led to the entire retail group, including Home Depot, to rise ahead of earnings.

But now that earnings are indeed here, the pundits are proclaiming the group has peaked and analysts have begun their downgrades. Cramer said this new retail "funk" is not based in reality because lower gasoline and higher employment are always great for retail.

Cramer said retailers that execute well, like Home Depot, will see their shares rebound in short order while those that make excuses, like Urban Outfitters (URBN) - Get Urban Outfitters, Inc. Report , will not.

Executive Decision: Richard Pops

For his "Executive Decision" segment, Cramer sat down with Richard Pops, chairman and CEO of Alkermes (ALKS) - Get Alkermes Plc Report , the drug maker that's seen its shares rise 22% in just the past month alone.

Pops explained the treatments Alkermes is working on have proven to be very powerful for psychiatric disorders like schizophrenia, addiction and anxiety because part of those diseases is a desire not to take medications day in and day out. That makes his company's once-a-month injections popular with both doctors and patients.

Pops continued that one of the company's drugs under development, a drug called ALKS-5461, is showing success for the treatment of depression, a disease where only half of all patients respond to traditional medications.

TheStreet Recommends

Finally, Pops talked about the anti-addiction drug Vivitrol, saying this drug is seeing success because after patients detox to get drugs out of their system, this once-a-month injection won't allow them to have another physical dependence for a full 30 days.

Cramer said with such a rich pipeline of drugs, there's a lot to like about Alkermes.

Lightning Round

In the Lightning Round, Cramer was bullish on Deckers Brands (DECK) - Get Deckers Outdoor Corporation Report , Columbia Sportswear (COLM) - Get Columbia Sportswear Company Report , Williams Partners (WPZ) , Williams Companies (WMB) - Get Williams Companies, Inc. Report and Alcoa (AA) - Get Alcoa Corp. Report .

Cramer was bearish on Jacobs Engineering (JEC) - Get Jacobs Engineering Group Inc. (J) Report , ADT (ADT) - Get ADT, Inc. Report , Transocean (RIG) - Get Transocean Ltd. Report , Diplomat Pharmacy (DPLO) - Get Diplomat Pharmacy, Inc. Report and Veolia Environnement (VE) .

Executive Decision: Chuck Bunch

In his second "Executive Decision" segment, Cramer sat down with Chuck Bunch, chairman and CEO of PPG Industries (PPG) - Get PPG Industries, Inc. Report , a stock that's up 418% since Cramer first recommended it back in 2009 and which is currently just off its all-time high.

Bunch commented on PPG's recent acquisition of Comex in Mexico, saying this number one player in coatings in Mexico will be immediately accretive to earnings and brings lots of synergies and opportunities for PPG in emerging markets.

Turning to Mexico in general, Bunch said PPG is very bullish on the country because Mexico is opening a lot of new auto plants and taking full advantage of being a Nafta trade partner.

When asked about falling commodity costs, Bunch said one of the biggest ways PPG benefits is with lower distribution costs, adding that his company will see benefits from these lower costs for several quarters to come.

Bunch also noted PPG's strong balance sheet and its willingness to both make more acquisitions and buy back more of its own stock.

Cramer said that PPG remains the best way to invest in the industrial complex.

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.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.