Load up on Procter & Gamble ( PG - Get Report) and sell Estee Lauder ( EL - Get Report), James Cramer said on his "RealMoney" radio show Tuesday.

Procter & Gamble reaffirmed guidance late Monday, while Estee Lauder previewed a "shockingly bad" quarter, Cramer said. The cosmetics giant blamed weakness at high-end department stores, but Cramer said the real problem is Estee Lauder's management.

High-end products and high-end retailers are doing very well right now, said Cramer, as rich consumers keep spending. Those stocks should be "more valuable in an economy where everything else is slowing down," said Cramer. So Procter & Gamble is the "wheat" and Estee Lauder is the "chaff," Cramer said.

Another company playing the blame game is Tempur-Pedic ( TPX - Get Report). Cramer said for a mattress company to blame car industry incentives for a sales shortfall is "shameful" and "silly." Sell the stock, said Cramer, who said he expects the stock to hit $5. Tempur-Pedic traded at $11.91 Tuesday afternoon.

A caller asked if Chesapeake Energy ( CHK - Get Report) is ripe for a buy. Cramer said the company Monday announced a "very expensive" acquisition of some natural gas properties in Texas but that the company is "probably the most technologically savvy" in extracting gas by nonconventional methods. If the stock comes in, "I certainly want to buy it," said Cramer.

Another caller asked if Cendant ( CD) is a buy. Cramer said he is confident Cendant's deal to sell its affinity marketing business will go through. Once Cendant has the cash from that sale, he believes Cendant will "reconstitute the company" and announce a "bountiful" buyback, which will make Cendant the must-own travel and leisure company. Even with gas at $3 a gallon, Cendant is a "great long-term story" and "should be bought and bought aggressively," Cramer said.

In response to a question about PNC ( PNC - Get Report), Cramer said he thinks people should "ring the register."

Cramer is bullish on Johnson Controls ( JCI - Get Report), saying its acquisition of York ( YRK) is a "good deal," and he likes the way Johnson Controls is diversifying away from autos.

Cramer is bearish on Ford ( F - Get Report) and Visteon ( VC - Get Report), adding that Visteon has had a big run due to a short squeeze and that it's now time to sell.

Cramer likes Toyota ( TM - Get Report) as a play on hybrid vehicles because Toyota has extra manufacturing capacity for producing the vehicles.

Modine Manufacturing ( MOD - Get Report) has been a "fantastic" stock and deserves to go higher.

Delphi ( DPH) is headed for bankruptcy and Cramer does not want to go anywhere near the stock.

Cramer would not recommend Owens Corning ( OWENQ) as a hurricane play despite prices for building materials being "sky high," because he isn't sure what will happen to the company's common stock once the company emerges from bankruptcy.

Cramer is bullish on UnitedHealth ( UNH - Get Report). He would buy the stock at $50 and believes it will be "easy" for the stock to go to $60. Ultimately he expects UNH to go to $70. UnitedHealth Group traded at $52.94 late Tuesday.

Cramer would sell Cinergy ( CIN) in advance of its being acquired by Duke Energy ( DUK), adding that there's "not that much left here."

Cramer is bullish on Schlumberger ( SLB - Get Report), saying he believes the 52nd largest publicly-held U.S. company is destined to become one of the top 10 largest, as it was in 1982.

Cramer said he would buy the stock of Capstone Turbine ( CPST) at $4, adding that his research assistant Will Gabrielski believes there are more important deals than the company's deal with UTC Power. Capstone traded at $4.27 late Tuesday.

Finally, Cramer said it was a "mistake" for the Federal Reserve to raise interest rates today and that Fed Chairman Allan Greenspan is "killing" the stock market.

Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.

1. Pigs Get Slaughtered 2. It's OK to Pay the Taxes
3. Don't Buy All at Once 4. Buy Damaged Stocks
5. Diversify to Control Risk 6. Do Your Homework
7. Don't Panic 8. Buy Best-of-Breed
9. Defend Some Stocks 10. Don't Bet on Bad Stocks
11. Own Fewer Names 12. Cash Is for Winners
13. No Regrets 14. Expect Corrections
15. Know Bonds 16. Don't Subsidize Losers
17. No Room for Hope 18. Be Flexible
19. Quit When Execs Do 20. Patience Is a Virtue
21. Be a TV Critic 22. When to Wait 30 Days
23. Beware the Hype 24. Explain Your Picks
25. Find the Bull Market
Check back for more of Cramer's Rules

At the time of publication, Cramer was long Cendant and UnitedHealth.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict."