Finally, there's Diageo ( DEO), another Cramer favorite. Shares have risen 14% since October and Cramer said this company continues to deliver for shareholders.

Lightning Round

In the Lightning Round, Cramer was bullish on Dominion Resources ( D), Duke Energy ( DUK), Apple ( AAPL), Linn Energy ( LINE), LinnCo ( LNCO) and SandRidge Mississippian Trust ( SDT).

Cramer was bearish on Alltel ( AT), Antares Pharma ( ATRS), American Eagle Outfitters ( AEO), Knight Capital Group ( KCG) and Frontier Communications ( FTR).

Hit the DECK

Speaking of circling back to old ideas, Cramer also took a new look at Deckers Outdoor ( DECK), makers of Uggs boots and Teva sandals. Deckers has been one of Cramer's favorite footwear plays, but the stock imploded in 2012 -- falling from a high of $117 a share down to just $28 a share as investors feared that the Uggs fad had run its course.

Deckers did not help its situation by slashing guidance as its sales slowed at the same time its prices for materials like sheepskin were on the rise. The trends, said Cramer, were horrid, which explains why nearly 46% of Deckers' shares are still sold short.

But things are looking up for Deckers. The company posted stronger sales and is seeing its materials prices begin to decline. Deckers caught an important upgrade Monday, which sent shares up a quick 10%.

What do the analysts see in Deckers? In a word, takeover. Cramer said VF Corp ( VFC) has a terrific acquisition in Timberland footwear, leading may to think Deckers could be an attractive target. Until now, the fundamentals at Deckers had been horrible, keeping suitors away. But with things looking up, the tide may be turning, according to Cramer.

With the fiscal cliff looming, Cramer said that he'd only start half a position now, and buy more on weakness or after the fiscal cliff is solved.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer said he changed his mind on a recent Goldman Sachs ( GS) upgrade of Dell ( DELL) from a sell directly to a buy.

Cramer said he initially dismissed the upgrade, but after reading the research he's now more swayed to agree.

He said the upgrade is not outlandish, calling for the $9 stock to rise to a mere $13 a share. With everyone having written off Dell, Goldman now has a contrarian view, said Cramer. Most important, the research suggests a leveraged buyout of the company is now "difficult to completely dismiss" given its low share price.

While still a believer in the post-PC era, including tablets and cloud computing, Cramer said those willing to speculate on something happening at Dell should now feel free to do so.

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

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.

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."

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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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