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) 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) 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), Coach ( COH), Zoetis ( ZTS), Priceline.com ( PCLN) and Opko Health ( OPK).

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

Improvement on the Horizon

In his second "Executive Decision" segment, Cramer sat down with Herbjorn Hansson, chairman and CEO of Nordic American Tanker ( NAT), 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), Bristol Myers-Squibb ( BMY), Ford ( F), Cheniere Energy ( LNG) and Toll Brothers.

Cramer said this portfolio was "perfection."

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

Cramer also blessed this portfolio as properly diversified.

The third portfolio had: General Electric ( GE), AT&T ( T), PetMed Express ( PETS), Altria ( MO) and Intel ( INTC) 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 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."

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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 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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