Cramer said that while he's not yet sounding the alarm, Sebastian's work indicates investors cannot afford to be complacent. After each of the previous market declines, there were buying opportunities. But given how fast those declines happened, there may not be time to sell and buy back in, so staying the course may still be a valid strategy.
In the Lightning Round, Cramer was bullish on Rentech Nitrogen ( RNF), CVR Refining ( CVRR), Bank of New York Mellon ( BK), Google ( GOOG) and Opko Health ( OPK). Cramer was bearish on CVR Energy ( CVI), Apollo Residential Mortgage ( AMTG), Yandex ( YNDX) and Yamana Gold ( AUY).
Executive Decision: Tarek Sherif
In his second "Executive Decision" segment, Cramer sat down with Tarek Sherif, chairman and CEO of Medidata Solutions ( MDSO), a cloud computing company focused on helping biotech firms with their clinical trials. Shares of Medidata are up 74% so far in 2013. Sherif said Medidata is a leader in the vertical cloud space and is helping more than 350 customers run their clinical trials better and more cost effectively. But the company is just scratching the surface, he said -- there are thousands of companies currently running clinical trials using legacy on-premise technology. By using Medidata, Sherif said, companies can cut costs, get to market faster an reduce risk all at the same time. Medidata has been innovating for over a decade, said Sherif, and now more than ever companies need faster, more flexible software as many of the new, targeted therapies and drugs demand that quality of data in order to succeed. That's why Medidata works with big names like Abbott Laboratories ( ABT) and Amgen ( AMGN), along with hundreds of smaller companies. Cramer said he's been remiss in not mentioning Medidata earlier and likes the company's growth trajectory.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer reminded viewers that leadership is everything. When a company loses a great leader, it may be time to head for the exits. That's certainly the case with Lululemon Athletica ( LULU), whose CEO, Christine Day, abruptly announced her resignation. Cramer said time after time Day proved the skeptics wrong and turned Lulu from a cult yoga brand into a mainstream sports apparel franchise that could one day challenge Nike ( NIKE) for dominance. But without Day at the helm, Cramer said investors are just left with a high-multiple stock, one with a questionable future. That's why he told viewers that on any bounce, it's time to ring the register. 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