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"The market has gotten way too negative," Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

"The market took down a lot of good stocks that don't have anything to do with the economy, consumer spending or Fed chairman Ben Bernanke," he said. "Pull the trigger and just buy something."

Cramer still sees bull markets in agriculture, defense, mining and minerals, oil and natural gas and healthcare cost containment stocks. He reiterated his buys on natural gas driller Chesapeake Energy ( CHK) and Agnico-Eagle Mines ( AEM) in the gold sector.

He also defended his call on fertilizer giant Potash ( POT), saying, "Anyone who thinks agriculture stocks are not going up is just stupid."

Cramer also identified several recession-proof stocks with big dividends as a safe place to invest, including BP ( BP) and AT&T ( T), along with Altria ( MO) and Verizon ( VZ), both of which he owns for his charitable trust Action Alerts PLUS .

One area Cramer recommended staying far away from is bank stocks. He warned that many banks still need to raise capital, and that puts their stocks and dividends at risk. He was especially leery of Citigroup ( C), Freddie Mac ( FRE) and Fannie Mae ( FNM).

"Now is the time to buy," said Cramer, "because everyone seems petrified." He sees tremendous short-selling and put-buying in the market, saying that usually signals a bottom is near.

"Anything positive in the market will have a huge impact," he said.

Defending the Merger

Cramer once again voiced his outrage at efforts in Congress to block the merger of Sirius Satellite ( SIRI) and XM Satellite Radio ( XMSR).

He dismissed the argument that a combined Sirius-XM would raise pricing and noted the company's plans to offer a la carte pricing for as little as $6.99 per month. "Consumers will have lower prices with the combined company," he explained.

Cramer also debunked the notion that the Sirius-XM merger is similar to the blocked merger attempt between DirecTV ( DTV) and Echostar ( SATS).

"TV is not the same as radio," he said. Unlike the world of TV where satellite TV often competes with only a single cable operator, there will always be terrestrial radio to compete with satellite radio, he said.

Finally, Cramer took issue with the notion that XM and Sirius can survive just fine without the merger. He said he's worried about XM's balance sheet and noted that consumers will get a monopoly anyway if XM goes under.

He urged viewers to contact their members of Congress and demand that the merger get done.

Western Union's Rising Star

Cramer called Moneygram ( MGI) "one of the worst companies I've ever seen."

He told viewers that when a company is in turmoil, investors should be running to its closest competitor. In this case, Cramer suggested that Western Union ( WU) is now poised to aggressively take share from the ailing Moneygram.

According to Cramer, Moneygram's recently announced recapitalization plan is horrible for the company and its shareholders. That leaves Western Union with attractive opportunities as Moneygram restructures.

Even before its recent collapse, Western Union was already three times larger than Moneygram. Cramer says Western Union is in great financial shape and noted that "the outlook for wire transfers is bright, regardless of which political party takes control of the White House in November."

Western Union recently beat earnings estimates by a penny a share and gave good guidance for the rest of 2008. The company trades at just 17 times its current earnings, but trades at just over 12 times its long-term growth rate.

"Things were already looking good for Western Union, but the collapse of Moneygram is just the icing on the cake," Cramer says.

Mad Mail

In this segment, Cramer told a viewer that he is concerned with expenses out of control at EnerNOC ( ENOC) and is no longer recommending that company.

He told another viewer that he is only recommending John Deere ( DE) and not any of the company's suppliers.

Lightning Round

Cramer was bullish on BE Aerospace ( BEAV), Siemens AG ( SI), Goldman Sachs ( GS), Schlumberger ( SLB), Transocean ( RIG), Shaw Group ( SGR), Mercadolibre ( MELI) and Equitable Resources ( EQT).

Cramer was bearish on Diebold ( DBD) and Crystallex ( KRY).

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, Verizon and Goldman Sachs.

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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