NEW YORK ( TheStreet) -- "Don't be a hero," Jim Cramer cautioned the viewers of his "Mad Money" TV show Tuesday, as he told investors not to buy any stocks before this market dip is done. Cramer said the facts have changed, and his worst fear for the economy, gasoline rising above $4 a gallon, is now a real possibility. He said unlike Egypt, Libya and Bahrain have a much larger impact on oil production and prices, and the facts may no longer be on the side of the bulls. Cramer said the market has had a huge run, and that means there will be a lot of profit taking on this new round of uncertainty. He said that most stocks don't bottom on day one of a decline. Rather they bottom on day two or three. That means more pain ahead for investors. Buy gold, Cramer told viewers, along with anything energy- or alternative energy-related. He said he'd also be a buyer of anything in the agriculture space on this weakness, as oil prices are unlikely to change eating habits and the need for grain. "Everything else," said Cramer, "no." "We've made a ton of money in this market," Cramer concluded, "but there are too many negatives and we have to temper out enthusiasm."
Poised for a RecoveryIn the "Off The Charts" segment, Cramer went head to head with colleague Tim Collins over the chart of optical equipment maker Oclaro ( OCLR), a stock that traded as high as a split-adjusted $4000 a share at the height of the dot-com boom in 2000, but one that could now be poised for a recovery over a decade later. According to Collins, who examined a long-term yearly chart going back 10 years, Oclaro first broke through its decade long downtrend in 2009, when shares doubling in six months. Since then, the stock has been hitting resistance at its current level. But while the share price may not have broken past the last levels of resistance, both the relative strength indictors and stochastics both point to a strong bullish pattern. Collins felt Oclaro shares could see $35 to $40 a share in 12 months, a 160% gain. Cramer agreed with Collins' analysis, saying that after years of consolidation, Oclaro is one of only a few optical players still standing. He said that the network upgrade cycle predicted in 2000 is finally upon us, thanks to the growth of the mobile Internet and video on demand. With carriers needing to upgrade their equipment, Oclaro may finally be in the sweet spot. Cramer also gave the nod to other optical equipment and testing players, companies like JDS Uniphase ( JDSU) and Agilent Technologies ( A).
Nurturing SuccessIn the "Executive Decision" segment, Cramer sat down with David Crane, president and CEO of NRG Energy ( NRG), a company Cramer called one of the most exciting utilities in America. Crane said that the political unrest in the Middle East should give America more incentive to become energy independent. He said unlike the 1970s, the country now has the technology for electric cars and renewable power generation. He said all that is needed now is the will to make them happen. "We don't have to be energy dependent," said Crane. That's why NRG is "trying to do a lot of things," according to Crane, including work on electric cars and renewable energy generation. He said that the company's solar initiatives are yielding returns in the high teens thanks in part to government subsidies and incentives. Crane said over the next three to five years he expects to see a lot more distributive solar projects. When asked whether NRG would be worth more as separate companies, Crane said that while it's probably true, most of the company's new projects are small, and need time and money to be nurtured before they could become stand alone entities. "We have to make them all successful first," he explained. Cramer said he remains a supporter of NRG, especially at its current level considering the company has $12 a share in cash on its books.