Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.

NEW YORK ( TheStreet) -- One down day does not make a market, Jim Cramer told "Mad Money" viewers Wednesday. Cramer said there are important issues to worry about, but that doesn't negate the many positives the market has going for it.

What are the negatives that has the market worried? Cramer said the release of the Federal Reserve minutes showed the Fed sees some positives in the economy, which is actually good news. However, investors then worried interest rates may eventually be on the rise.

Then there are the worries over the coming government sequester -- the mandatory cuts across the board. Cramer said this, like the fiscal cliff, may actually be another situation where the bark is worse than the bite.

Then there were the disappointing earnings from homebuilder Toll Brothers ( TOL - Get Report). Cramer said the markets were disappointed but during the conference call he noted that Toll is actually more bullish than it has been in years. So should investors worry about Owens Corning ( OC - Get Report) below $40 a share? Cramer said he wouldn't, as the housing recovery is still alive and well.

Cramer said he is concerned over the price of copper as that could indicate China is still stuck in the mud, and any time Washington is on the front page it's never good news for stocks. But that doesn't mean the markets can't have a bad day here or there, he concluded. Even sports legends all had their down days.

Executive Decision

In the "Executive Decision" segment, Cramer spoke with Gary Evans, chairman and CEO of Magnum Hunter ( MHR), a speculative oil and gas driller whose shares fell 40% over the past year.

Evans explained that Magnum Hunter is a company where the sum of its parts is worth far more than the whole. That's why the company plans to sell its mature Eagle Ford assets, about 26,000 acres, and use that capital to further develop its other assets. "The markets wants to see growth," Evans said, and that's what Magnum Hunter plans to deliver in 2013.

Evans said he's very excited about his company's assets in North Dakota in particular. He said while many doubted the assets Magnum acquired, now that the company has drilled a number of wells it is focusing on the sweet spots and having a lot of success.

When asked about taking on a foreign investor as a partner, Evans said there's a lot of interest by foreign companies to learn about U.S. oil and gas technologies. He said Magnum certainly could bring on a foreign investor if it wanted to.

Cramer admitted that his recommendation of Magnum last year did not pan out for investors. He said the underlying story remains strong at the company, but whether the markets will recognize that potential is another story.

Takeover Fever

Takeover fever has hit the markets, Cramer told viewers, but that doesn't mean investors should go gaga over every takeover rumor.

Cramer said rumors that Joy Global ( JOY) and even Starbucks ( SBUX - Get Report) may be taken over or taken private certainly make for great headlines but investors need to remain skeptical, especially when the "reports" are few on facts.

"Don't get taken," Cramer concluded. Best Buy ( BBY - Get Report) has been trying to work out a deal for months now, but so far nothing has materialized.

Lightning Round

In the Lightning Round, Cramer was bullish on US Airways Group ( LCC), Advance Auto Parts ( AAP - Get Report), Coach ( COH), Zoetis ( ZTS - Get Report), ( PCLN) and Opko Health ( OPK - Get Report).

Cramer was bearish on Hecla Mining ( HL - Get Report), Atwood Oceanics ( ATW) and Exelon ( EXC - Get Report).

Improvement on the Horizon

In his second "Executive Decision" segment, Cramer sat down with Herbjorn Hansson, chairman and CEO of Nordic American Tanker ( NAT - Get Report), a stock that's down huge over the past two years because the global recession has put a huge dent in the company's profitability. Nordic American currently sports a 7.3% dividend yield.

Hansson confirmed there is less oil flowing into the U.S. thanks to increased domestic production, but he said increased demand from China is more than offsetting that decline. He said the Chinese use more oil per capita that their U.S. counterparts, which makes the potential for oil in the Far East a tremendous opportunity.

Hansson said Nordic American recently cut its dividend to help fund new ships and increase capacity for when the world's economies recover. He has personally invested millions because he believes in the company's turnaround.

When asked where the bottom of the market is, Hansson said it has been reached now. Next year the size of the global ship fleet will decline for the first time in many years, and he's now able to buy a new ship for just $52 million -- the same ship cost over $100 million just a few years ago.

Cramer said Hansson has been in the business for a very long time, so if he says a turn is at hand, Cramer's a believer.

Am I Diversified?

In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.

The first portfolio included: Bank of America ( BAC - Get Report), Bristol Myers-Squibb ( BMY - Get Report), Ford ( F - Get Report), Cheniere Energy ( LNG - Get Report) andToll Brothers.

Cramer said this portfolio was "perfection."

The second portfolio's top holdings included: Valero ( VLO - Get Report), CVS Caremark ( CVS - Get Report), Triangle Capital ( TCAP), Qualcomm ( QCOM - Get Report) and ConEd ( ED - Get Report).

Cramer also blessed this portfolio as properly diversified.

The third portfolio had: General Electric ( GE - Get Report), AT&T ( T - Get Report), PetMed Express ( PETS - Get Report), Altria ( MO - Get Report) and Intel ( INTC - Get Report) as its top five stocks.

Cramer also blessed this portfolio as diversified.

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

-- 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 positions in BMY, GE and SBUX.

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."

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