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Jim Cramer added NTL ( NTLI) and Bank of Nova Scotia ( BNS) to the list of his five favorite foreign stocks on his "Mad Money" TV show Tuesday.

Starting with NTL, Cramer said it could be the next cable company to run. Although the stock did nothing throughout the big move in cable, Cramer believes NTL is ready to move now.

NTL, sitting on a big pile of debt, may not be best of breed, says Cramer. But the biggest cable company in the U.K. is rolling out a triple play. The triple play, in which a company supplies its clients with Internet, cable and phone service, has pushed all of the American cable stocks, even the worst of them, higher, he said. And it should do the same for NTL.

Moreover, while the old NTL had an image problem, now that Virgin Mobile owns a stake in it, NTL is changing its name to Virgin Media, Cramer said.

As the Virgin name and brand are "incredibly strong," he believes even more people will sign up for the company's triple play.

Nova Scotia Lock

The third-best international stock in Cramer's book is the Bank of Nova Scotia. The financial company has good growth, he said, adding that the bank also has a 3.3% dividend yield, which should keep increasing.

( For Cramer's top foreign-stock pick, see Monday's recap .)

Moreover, not only is it taking market share in Canada, "an underbanked country," Cramer believes "it is the single-best, low-risk way to play the new pro-capitalist revolution in Latin America."

Cramer said the bank has a "strong presence" in the Caribbean and should be the bank to play Cuba. "The Bank of Nova Scotia is expanding rapidly in Central America ... where they need credit cards and mortgages."

Cramer told viewers that he sanctions putting up to 20% of one's portfolio in international stocks as a form of diversification. The right way to pick these stocks, he said, is to look for stability and for stocks that have not run too much.

While Homex Development ( HXM) and Baidu ( BIDU) are examples of international stocks that have great growth, Cramer said, it's not the right time to get into these, as they are pricey and have run too much.

Tyco a Triple Buy

Tyco ( TYC) has announced that it is breaking up its divisions into stand-alone companies, a move that makes the stock a triple buy, Cramer told his viewers.

That, he said, is based on his belief that Tyco's four divisions (electronic, health care, engineered products, and fire and security) are worth more as separate parts than as a whole.

After evaluating the divisions, Cramer said he set up a basket of comparable businesses to find the multiples that market players are paying for similar stocks. Further, he took the average multiple, plugged it in and came up with a conservative analysis that Tyco's breakup should account for a 10% upside in the stock.

VF Flyer

Few companies have been as reliable as VF Corp. ( VFC), Cramer said. But today the company's skeptics came out after it announced the sale of its underperforming Fruit of the Loom business, he said.

Cramer welcomed Mackey McDonald, the company's chairman and CEO, to the show and asked him to comment on the deal.

"Today's announcement is a big step forward," McDonald said. It is going to help the company improve its organic growth rate and VF's margins, he said.

Further, McDonald said the sale should allow VF to focus on its higher-growth businesses and to improve shareholder returns.

Cramer advised market players to back up the truck* and buy VF shares now.

Lightning Round

Cramer was bullish on Schlumberger ( SLB), Transocean ( RIG), Companhia Vale do Rio Doce ( RIO), Allegheny Technologies ( ATI), Wachovia ( WB), Bank of Nova Scotia ( BNS), Ford ( F), Marvell Technology ( MRVL), Charles Schwab ( SCHW), Ameritrade ( AMTD),

E*Trade ( ETFC), Goldman Sachs ( GS), Johnson Controls ( JCI) and Adobe Systems ( ADBE).

Cramer was bearish on Talisman Energy ( TLM), Zoltek ( ZOLT), Syntax-Brillian ( BRLC), Fuel-Tech ( FTEK), Visteon ( VC), SAIC ( SAI), Evergreen Solar ( ESLR) and Baker Hughes ( BHI).

For more of Cramer's insights during the Lightning Round, click here .

Sudden Death

In his "Sudden Death" round, Cramer was bullish on @Road ( ARDI), Transocean ( RIG), which he owns for his charitable trust, Action Alerts PLUS , and Darden Restaurants ( DRI).

He was bearish on Complete Production Services ( CPX).

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.
At the time of publication, Cramer was long Goldman Sachs, Marvell Technology and Transocean.

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