When asked about Ubiquiti Networks ( UBNT), a wireless equipment provider, Cramer said that this stock has run too much and needs to cool before he'd be a buyer.
In the "Mad Tweets" segment, Cramer responded to questions sent via Twitter to @JimCramer. Cramer said he still likes Nordic American Tanker ( NAT), but fears that railroad CSX ( CSX) has too much coal exposure. When asked about Western Digital ( WDC), Cramer said there is nothing proprietary at the company and he prefers Intel ( INTC).
No Huddle Offense
In his "No Huddle Offense" segment, Cramer outlined all of the bear arguments for why the markets are headed lower, and why he's not worried about any of them. Cramer said the weak Chinese GDP number was exactly what he wanted to see, as it means that country will have to engineer the soft landing that everyone wants. In Europe, Cramer said the Europeans are finally dealing with their crises as they arise and this time will be no different. Turning to the banks, Cramer said he's not worried about earnings, he wants to see revenues, which are finally on the uptick. Finally, Cramer said he too was concerned over Google's ( GOOG) disappointing results, but then he remembered that the stock trades for just 12.5 times earnings, even less if you back out the company's cash on hand. Add it all up and Cramer said the markets were probably ripe for a little profit taking, but it's certainly nothing to panic about.
In the Lightning Round, Cramer was bullish on International Paper ( IP), Marriott International ( MAR), Wyndham Worldwide ( WYN) and Starwood Hotels & Resorts ( HOT). Cramer was bearish on Gulfport Energy ( GPOR), Telecom Argentina SA ( TEO) and Foster Wheeler ( FWLT).
In his closing comments, Cramer said that he's still bullish on JPMorgan Chase ( JPM), an Action Alerts PLUS holding, and would be a monster buyer if the stock falls below $40 a share. He was also bullish on Wells Fargo ( WFC). --Written by Scott Rutt in Washington, D.C. To contact the writer of this article, click here: Scott Rutt. Follow TheStreet on Twitter and become a fan on Facebook. To submit a news tip, send an email to: email@example.com. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. Click here to sign up for Jim's Daily Booyah to get the Mad Money recap delivered to your inbox.For more of Cramer's insights during the Lightning Round, click here .