"I like stock more when they're coming down than when they're flying high," Jim Cramer told his Mad Money viewers Monday. When the market is declining, investors should be running toward the sale, not fleeing from it. Fortunately, stocks were still on sale today, which should have everyone smiling.

Why did the market start declining in the first place? Cramer said investors were taking profits in Nvidia (NVDA) - Get Report , which had run too far, too fast. But now that shares have fallen from $168 to $150 a share, Cramer said not might be the time to start buying in.

The markets were also digesting a downgrade of Apple (AAPL) - Get Report , an Action Alerts PLUS holding. Cramer said the downgrade was well-intentioned, but he's still sticking with the company he called the strongest consumer brand in the world. Apple's shares were up 0.6% to $146.28 on Tuesday in the early afternoon.

Then there are the other growth stocks, like FANG. Cramer said he's a buyer of Facebook (FB) - Get Report and Alphabet (GOOGL) - Get Report , two of the four FANG stocks, along with Adobe Systems (ADBE) - Get Report and LAM Research (LRCX) - Get Report .

As for the banks, Cramer said their fate is not in their hands, as all eyes are counting on the Federal Reserve to raise interest rates multiple times this year. Without a strong statement from the Fed, these stocks could be in jeopardy.

On Real Money, Cramer says the sale's still on and that's not something to freak out about. It's something to embrace. Get more of his insights with a free trial subscription to Real Money.

Executive Changes at General Electric 

What should investors make of the news that long-time General Electric (GE) - Get Report CEO Jeff Immelt is out and will be replaced by John Flannery? Cramer said he's holding onto the stock for Action Alerts PLUS and you probably should too.

In the sports world, the saying goes that you're only as your record says you are. In the case of Immelt, who's been at the helm of GE for the past 16 years, that record isn't a good one, with shares down 31% during a time that most other industrials were at least able to post double-digit gains.

Cramer said he still has a lot of respect for Immelt, who he called a smart man that did as well as it could given that GE was invested heavily in aerospace just after 9/11, and heavily in oil and gas just as the markets peaked in 2014. That said, Flannery, known for being tough as nails, could bring real change to GE, something that activist investor Nelson Peltz has been advocating for.

Cramer said expectations will have to come down for GE in the short term, but he sees no reason to sell here given that any change is a good change and after the stock's rally today, the market seems to agree.

C'mon In, The Water's Fine

Summer is getting into full swing and the weather is getting hot. Fortunately, there's one company that thrives when the mercury rises and that's Pool Corporation  (POOL) - Get Report .

Let's face it, when the weather gets really cold, we use more natural gas and buy more winter coats from Columbia Sportswear (COLM) - Get Report , Cramer said, and when it gets really hot, we build more pools.

Pool not only benefits from the building of new pools, which is on the rise as home prices rebound, but also from the maintenance and upkeep of those pools, helped along by a longer pool season. Making matters even better, the drought in California has finally ended, which means both more pool construction and more pools back in operation.

Cramer said Pool is also very shareholder friendly, with this $5 billion company having bought back nearly $1.5 billion of its own shares and increasing its dividend to 1.2%. When the company last reported, it posted a 12-cents-a-share earnings beat and has delivered a 26% compound growth rate since first coming public in 1995.

Universal Display

The OLED revolution is finally here, Cramer told viewers. For you and me, that means brighter, thinner and more power-efficient displays for our smart phones and devices. But for investors, that means it's time to buy Universal Display Corp.  (OLED) - Get Report , a stock that's already up 108% for the year. (OLED is short for organic light emitting diodes.)

Cramer explained that Universal Display is at the heart of OLED technology, with proprietary technology that it licenses to manufacturers. The company was bolstered in 2015 by rumors that Apple is looking to upgrade its iPhones to OLED, and shares surged again in 2016 after Applied Materials (AMAT) - Get Report reported receiving a $700 million order for equipment to manufacture OLED displays.

But those hopes were dashed earlier this year as the company struggled to make its margins, a situation that quickly resolved itself. When Universal Display last reported, it delivered a 22-cents-a-share earnings beat on an 87% spike in revenues with strong full-year guidance to boot.

Cramer said with so many uses for OLED and its superior technology, coupled with increased manufacturing capabilities, it's worth paying 46 times earnings for Universal Display, although he'd still prefer to buy the stock on any weakness.

Cramer and the AAP team say that selloff threw a wrench into Snap-On (SNA) - Get Report . Find out what they're telling their investment club members with a free trial subscription to Action Alerts PLUS.

Lightning Round

In the Lightning Round, Cramer was bullish on Charles Schwab (SCHW) - Get Report , Essent Group (ESNT) - Get Report , Cara Therapeutics (CARA) - Get Report and MGM Growth Properties (MGP) - Get Report .

Cramer was bearish on Chemours (CC) - Get Report .

Executive Decision: Ollie's Bargain Outlet

For his "Executive Decision" segment, Cramer sat down with Mark Butler, chairman, president and CEO of Ollie's Bargain Outlet (OLLI) - Get Report , the discount retailer with 247 locations in 20 states along the East Coast. Shares of Ollie's are up 160% since its IPO in 2015.

Butler said that Ollie's IPO has given his company a big boost in visibility, both with customers and also manufacturers and suppliers. He said everyone loves a bargain and Ollie's provides the right deals and the right time and "Oliie's Army" is now over eight million members strong.

When asked about how Ollie's sources their goods, Butler explained that packaging is always changing and when a manufacturer changes their packaging, the still new, but now "old" items often make their way to Ollie's at sizable discounts. That's why Butler said they've never had a store lose money and they're only becoming more appealing to landlords and future landlords as the company grows.

On the topic of growth, Butler said that Ollie's can support 350 to 400 locations with their two existing distribution centers but will be looking to expand their capabilities, probably beginning in 2019.

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At the time of publication, Jim Cramer's Action Alerts PLUS had positions in AAPL, FB, GE, SNA, GOOGL, ADBE.