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"I'm sick and tired of taking abuse from people who say I've gotten it wrong," Jim Cramer told viewers of his "Mad Money" TV show on Monday.

Cramer defended his stance in favor of Federal Reserve rate cuts in response to an article in the most recent edition of Newsweek. In the article, Robert Samuelson says that Cramer only advocates rate cuts to receive a short-term boost in the stock market.

Not so, Cramer insisted. "The Federal Reserve does not cut rates to boost the markets," Cramer said. The recent rate cut, he argued, did not even have anything to do with a softening economy. Rather, he said, the most recent rate cut "was pure and simply to avoid a financial crisis."

For the record, Cramer said he's been advocating rate cuts for more than a year now, and that call has fallen on deaf ears. He expressed his unhappiness with emergency cuts or stimulus packages "that give away taxpayer monies that we don't have."

Instead, Cramer said he prefers small, measured rate cuts that help avoid a crisis in the first place and ones that keep long-term bull markets rolling.

By contrast, he characterized the recent Fed moves as "unsophisticated, arrogant and ultimately reckless."

But now that the Fed has chosen its course, Cramer said he still sees strength in companies like United Technologies ( UTX), Microsoft ( MSFT), Honeywell ( HON) and IBM ( IBM). He also still likes oil and agriculture stocks.

Cramer also said he'd be a buyer of Fluor ( FLR) at these levels and thinks rail stocks such as Union Pacific ( UNP) and CSX ( CSX) are both "on fire."

No Excuses, Please

"Every company that reports bad results like to blame the economy," Cramer told viewers, "but that's just an excuse."

Cramer said that usually when one company reports bad numbers, it's because a competitor is slaughtering them. That's the case, he noted, with Motorola ( MOT) and Nokia ( NOK).

Last Wednesday, Motorola reported abysmal numbers, with mobile device sales down 38%. In response, the markets sold off both Motorola and Nokia under the assumption that the whole industry must be bad, he said.

But Cramer said that thinking is just wrong. He noted that Nokia recently posted a 44% jump in sales for the quarter, forecast increased market share and reported strong sales in several red-hot foreign markets.

Cramer said it all clearly shows that Nokia is taking share from Motorola, and that makes Nokia the company to buy in his book.

The Lure of Retail Stocks

Cramer says retail stocks are the place to be when the Fed starts cutting rates.

In this regard, Cramer has liked Phillips-Van Heusen ( PVH) since September, a call that he acknowledged has been wrong so far.

But he says Van Heusen, a shirt and neckwear company, has been using the weakness to buy back its shares; Cramer still likes the company's brands, such as Calvin Klein and Geoffrey Beene. He welcomed CEO Emanuel Chirico to the show to talk about the company's outlook.

Chirico noted that his company was one of the first to warn investors about a weak consumer. Despite that warning, he said, the company still beat its earnings by 2 cents a share in its latest quarter.

He said inventories are slightly up and that the company is coming into January lean and healthy. He said the company is also committed to its stock-buyback program. He also stood by the company's decision to go after the naming rights to the arena where the New Jersey Nets play. The arena, which was named Continental Airlines Arena, is now called Izod Arena and will be a great marketing ploy, he said.

Cramer said he still likes Liz Claiborne ( LIZ), VF Corp ( VFC) and Jones Apparel ( JNY), but says Van-Heusen is cheap and should be bought ahead of the proposed federal stimulus package.

Mad Mail

In this segment, Cramer corrected a Lightning Round stock he mentioned during his show on Friday.

Cramer said he mistakenly referred to Westinghouse Air Brake ( WAB) when he really meant Wabco ( WBC). Cramer said he was recommending Wabco, but also believes that Westinghouse Air Brake is also a good business.

Cramer told another viewer that McDonald's ( MCD), a stock he owns for his charitable trust, Action Alerts PLUS, is a major buy despite its current weakness.

A third viewer asked about Diana Shipping ( DSX). Cramer said he still remains negative on Diana.

Lightning Round

Cramer was bullish on Ultra Petroleum ( UPL), DirecTV ( DTV), Discovery Holdings ( DISCA), Mercadolibre ( MELI), Apple ( AAPL), First Solar ( FSLR), Northrop Grumman ( NOC), Boeing ( BA), AT&T ( T), Verizon ( VZ)and Texas Instruments ( TXN).

Cramer was bearish on McGraw-Hill ( MHP), Broadcom Corp ( BRCM), Trimble Navigation ( TRMB), Garmin ( GRMN), MEMC Electronics ( WFR), Southern Peru Copper ( PCU), Clearwire ( CLWR)and Aecom Technology ( ACM)

Want more Cramer? Check out Jim's rules and commandments for investing clicking here.

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

At the time of publication, Cramer was long Discovery Holdings and McDonald's.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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