Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included Arris ( ARRS), Caterpillar ( CAT), Clorox ( CLX), International Paper ( IP) and Enbridge ( ENB).

Cramer said "bingo," noting this portfolio was well played.

The second caller's top holdings included Alcoa ( AA), Black Hills ( BKH), Weatherford ( WFT), Chesapeake Energy ( CHK) and Verizon ( VZ).

Cramer said that Weatherford, Chesapeake and Black Hills were three of a kind in the oil patch. He said the portfolio could use a healthcare and a hotel stock.

The third caller had Southern Copper ( SCCO), QR Energy ( QRE), BGC Partners ( BGCP), MarketVectors Junior Gold Miners ETF ( GDXJ) and Tornier ( TRNX) as their top five stocks.

Cramer said that BGC was too speculative for his tastes, but otherwise the portfolio was fine.

Lightning Round

Cramer was bullish on Pengrowth Energy Trust ( PGH), Walt Disney ( DIS), ( CRM), Bristol-Myers Squibb ( BMY) and Sanofi-Aventis ( SNY).

Cramer was bearish on Microsoft ( MSFT), Radioshack ( RSH) and Vertex Pharmaceuticals ( VRTX).

Closing Comments

In his "No Huddle Offense" segment, Cramer asked the question, has housing finally bottomed? He said the new and existing home sales data won't tell you, but the employment reports will.

Cramer said that despite what you may have heard, it's not the foreclosure rate or the number of underwater mortgages that are keeping home prices low, it's the number of people without a job. For years the U.S. built too many homes, then the government made the situation worse by offering tax breaks to home builders and tax credits to home buyers.

With record low mortgage rates, Cramer said that buyers and builders don't need incentives. He said buyers need jobs to secure mortgages. Once employment picks up, so too will the housing market. That's why today's ADP employment report was so promising, he said.

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

To contact the writer of this article, click here: Scott Rutt.

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