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NEW YORK ( TheStreet) -- "Some days are just horrible," Jim Cramer admitted to his "Mad Money" TV show viewers Tuesday, but that doesn't mean that investors should flee towards cash.

Instead, Cramer said that investors need to get into a position to make the most of the good days and lose the least on the bad ones.

Cramer said there were a number of reasons why the markets sold off on the same debt deal that we've been praying for for weeks. It's obvious that the markets hated the debt deal, he said, as it failed to make any meaningful spending cuts. The markets are also worried about the economy, which came to a grinding halt in July as companies waited for a deal to materialize.

Then there are the worries still lingering in Europe, as other growth nations like Brazil, China, India and Russia all put the brakes on their overheated economies.

So with so much bad news abound, where does Cramer think investors need to park their assets? At the risk of sounding like a broken record, he said gold needs to be a part of everyone's portfolios, either as gold bullion or the SPDR Gold Shares ( GLD) ETF. Cramer said investors also need to look towards companies with high dividends, as well as international stocks like the Canadian banks or Vodaphone ( VOD).

Cramer also gave the nod to solid industrial names like Eaton ( ETN) and PPG ( PPG), as well as any of his high-growth F.A.D.S.C.A.N. stocks, which include names like F5 Networks ( FFIV), Deckers Outdoor ( DECK), Chipotle Mexican Grill ( CMG) and Netflix ( NFLX).

"It will get better over time," Cramer reminded viewers, as he told them that the markets aren't likely to fall much more than the 6% they already have from their highs. He urged home-gamers to get in a position to make the most of what the markets are giving.

Sticking to the Game Plan

In the "Executive Decision" segment, Cramer spoke with Chuck Bunch, chairman and CEO of PPG ( PPG), a stock that's gained 80% since Cramer first got behind it in June 2009. PPG is off seven points since reporting a nine-cent-a-share earnings beat on a 15% bump in revenues and a 2% increase in overall volumes.

Bunch said that PPG had a great quarter, and while growth around the globe is uneven at the moment, there's still a solid environment where the company can prosper. He said the company is positioned well across the globe and its geographic diversity give it access to China, Korea and India as well as in a multitude of end markets like aerospace.

Bunch said that despite all of the negative news coming from Washington, PPG did not alter its plans and instead stayed focused on its business plan. He said that PPG will not get caught up in the negative atmosphere of Washington.

One thing that did affect the company however was the earthquake and tsunami in Japan. Bunch said that while PPG isn't directly affected by the Japanese markets, the supply chain disruption caused in other parts of the world did take their toll on the company's growth. Bunch did note, however, that levels are now slowly returning to normal.

Cramer said that PPG is exactly the kind of company he'd want for his portfolio, especially since shares are lower now than they were when the company reported its stellar results.

Mosaic Poised for a Rally

In the "Off The Charts" segment, Cramer went head to head with colleague Tim Collins over the chart of fertilizer king Mosaic ( MOS), a stock that's slipped some 20 points from its 52-week high recently as the bull market in agriculture powers on.

According to Collins, the daily chart of Mosaic reveals a classic reverse head-and-shoulders pattern, with a selloff that began in May, continued in June, only to rebound a bit in July before encountering more weakness last week. Collins felt that if Mosaic were able to hold the $74.25 level, it would be poised to rally into the mid-$80s.

Collins also provided a weekly chart comparing the price action of Mosaic to that of the broader S&P 500. This chart showed that last summer, Mosaic greatly underperformed market, only to snap back hard in the fall. The identical pattern has formed this year, with weakness culminating in June, and a solid climb back towards the mean.

Cramer agreed with Collins' analysis, adding that the agriculture bull market is gaining momentum again and Mosaic is all about helping farmers get more crop per acre of land. He said this secular growth trend is not going away any time soon, and Mosaic should be bought on any weakness like today.

Multiple Drug Strategy

In a second exclusive "Executive Decision" segment, Cramer sat down with Richard Pops, chairman, president and CEO of Alkermes ( ALKS), a biotech company that's looking for unmet medical needs and filling them.

Pops said that Alkermes' philosophy has always been that no single drug is big enough to take them to the finish line. Because of that, the company is exploring multiple drugs and conditions simultaneously, unlike just about all other biotech companies that focus on hitting it big with one drug, then moving onto another.

Pops said that the FDA threw up a big hurdle when it asked for a heart study concerning Alkermes' diabetes drug Bydureon, but that study came back clean and the updated data has been resubmitted to the FDA and is awaiting a response.

Pops also highlighted the company's drug Vivitrol, which helps fight opiate addiction. He said that drug is being tested in our prison system and the data has been "very encouraging" so far.

In still other areas of addiction and schizophrenia, Pops noted that his company's monthly treatments are continuing to outperform daily alternatives.

Cramer continued his support for Alkermes, saying that the stock always comes roaring back after it gets beaten down.

Lightning Round

Cramer was bullish on Exelixis ( EXEL), Buckeye Partners ( BPL), PPL Corp ( PPL) and GlaxoSmithKline ( GSK).

He was bearish on Photronics ( PLAB).

Closing Comments

In his "No Huddle Offense" segment, Cramer said the markets are scrambling to figure out what SM Energy ( SM) is and why this stock roared by 10% today.

Turns out that SM Energy recently changed its name, but remains one of the hottest oil and gas producers in the Eagleford shale region of the country. Cramer said this stock is simply out of touch with how much this company now has in reserves, as the company is adding an additional $295 million to its exploration and production budget to help get the mountain of oil its sitting on out of the ground.

Those who used to say America could drill its way away from OPEC were once called dreamers, said Cramer, but the amount of oil that is now being found in our country is making that dream a reality.

He said companies like SM Energy, along with Chesapeake Energy ( CHK), Pioneer Natural Resources ( PXD) and Carizzo Oil & Gas ( CRZO), are leading that charge.

--Written by Scott Rutt in Washington, D.C.

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At the time of publication, Cramer was not long any equities mentioned.

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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com 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 TheStreet.com, 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 TheStreet.com. 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 TheStreet.com, 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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