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"The markets were looking for a big rate cut from the Federal Reserve, and that's just what they got," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

Cramer said there's no reason now not to be bullish and those who sold off were wrong.

He said he's so confident in the market that he would even consider buying a house. A turnaround in real estate is inevitable, he emphasized.

"This cut has given investors an opportunity to make money," Cramer said.

In this market environment, he likes such high-paying dividend stocks as Altria ( MO), which just raised its dividend again on Wednesday. Altria is a stock which he owns for his Action Alerts PLUS portfolio.

He's also a fan of AT&T ( T) and Verizon ( VZ) for their dividends.

Cramer also sees a bull market in retail stocks and finds Costco ( COST) and Urban Outfitters ( URBN) attractive. He says just about any retailer should benefit from the rate cuts.

Banks and brokers should also go higher in this environment, Cramer said. He said Wachovia ( WB) is probably the strongest player and noted Washington Mutual ( WM) is worth hanging onto until they get a bid.

He also sees some value in Bank of America ( BAC) and even in Citigroup ( C). The latter is a stock which he owns for his Action Alerts PLUS portfolio.

Cramer also had a few new recommendations, including automakers General Motors ( GM) and Ford ( F), both of which Cramer feels will slowly start creeping higher.

Cramer recommended buying any of these names on weakness. "Be glad the market came down," he noted. This is not the time to run away from stocks, but rather the time to run toward them, he asserted.

A Stock That Delivers in Tough Times

Cramer said Tupperware ( TUP) has been a slow but steady winner since he first recommended it on Oct. 4, 2006. Since then, Tupperware shares have risen 75%.

The company just reported a blowout quarter, beating estimates by 13 cents a share, and was up 18% on a down day in the markets. On top of that, it sports an attractive 2.5% dividend yield.

Cramer said the company can deliver these earnings because 85% of its business is overseas and because it relies on individual sales representatives rather than costly retail outlets.

Rick Goings, chairman and CEO of Tupperware ( TUP) appeared on the show to elaborate on his company's operations.

Goings said Tupperware is indeed a counter-cyclical business that does well when times are tough.

He noted that 40% of Tupperware's business is now beauty products. When Cramer asked Goings about the threat of rising raw costs, the CEO replied that with 70% gross margins, raw costs are not a problem.

Cramer closed by saying he stands behind Goings and would be a buyer of Tupperware.

Don't Be Fooled By One Report

Cramer warned investors not to "get taken when losers report bad numbers." Instead, he says, "stick with the winners."

On Monday's show, he outlined how bad news from cellular equipment maker Motorola ( MOT) brought down the shares of its competitor, Nokia ( NOK), right before Nokia reported stellar earnings and shot up 5 points.

The same thing is happening, he says, with the wireless companies. Of the big three wireless providers, AT&T ( T), Verizon ( VZ) and Sprint ( S), Cramer would only keep AT&T and Verizon. Sprint, he says, "is just a disaster."

On Jan. 18, Sprint pre-announced sizeable downward pressure on subscriber growth, a move which brought down shares of AT&T and Verizon as well. But if you believed the Sprint news, you would've lost out, Cramer warned.

Just one week later, AT&T announced a net gain of 2.7 million new subscribers, compared to a loss of 100,000 subscribers for Sprint. Shortly thereafter, Verizon announced a net increase of 1.9 million subscribers.

"You just can't get enough AT&T or Verizon," Cramer said. Both companies offer safe dividends and are clearly taking share from Sprint.

He says AT&T, at below $35 a share, would be the better value, but warns investors to be careful when Sprint gets ready to announce again. More bad news, he says, could drop all three stocks again.

Mad Mail

In this segment, Cramer told a viewer that although bank stocks will see continued weakness, he would buy JP Morgan ( JPM) or Wachovia ( WB) if they fall more than a few points.

A second viewer asked about Walgreen's ( WAG). Cramer said he thinks the business is no good and Walgreen's is going down.

Sudden Death

Cramer was bullish on Precision Castparts ( PCP) and Level 3 Communications ( LVLT).

Cramer was bearish on Pfizer Inc ( PFE), Cal Dive ( DVR), Sara Lee ( SLE) and Pacific Ethanol ( PEIX).

Lightning Round

Cramer was bullish on Foster Wheeler ( FWLT), Emerson Electric ( EMR), Flextronics ( FLEX), Waste Management ( WMI), Republic Services ( RSG), PetroChina ( PTR) and Focus Media ( FMCN).

Cramer was bearish on Under Armour ( UA) and E*TRADE Financial ( ETFC).

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

For more of Cramer's insights during the Lightning Round, click here .
At the time of publication, Cramer was long Altria and Citigroup

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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