Thaman was also bullish on rising interest rates, saying the trend will likely bring more buyers to the market before rates go even higher. Borrowing money at 4% and buying a home that's rising in value by 10% is still a great deal, he noted. Thaman was even bullish on China, where competitors have slowed their expansion and are waiting for demand to catch up to supply. Cramer called Owens Corning a great American company and said when a company announces a shortfall and the stock doesn't go down, well, that should tell you something.
To be a great investor, you need to remain rigorous and disciplined, Cramer told viewers, and that's especially true when speculating. That's why Cramer recapped his 12 "Speculation Friday" picks for the year to see how they've been doing. Not surprisingly, they've delivered a 20% return, on average, with five massive winners, one 30% winner, three losers and the rest remaining essentially flat. Cramer said that W.R. Grace ( GRA) is still not yet out of bankruptcy and he still likes its prospects. He was also bullish on Jazz Pharmaceuticals ( JAZZ), Celldex Threapeutics ( CLDX) and TearLabs ( TEAR). Cramer said he was worried about Facebook ( FB), a stock he owns for his charitable trust, Action Alerts PLUS -- until today, when the company reported terrific earnings. Also in the bull camp were Radian Group ( RDN), Krispy Kreme ( KKD), JDS Uniphase ( JDSU) and Blackstone Group ( BX). Even pharmacy benefit manager Catamaran ( CTRX) was still a buy in Cramer's book. Among the losers, Cramer said he was disappointed by Compuware ( CPWR), but VirnetX ( VHC) was the biggest loser, down 48% since the recommendation.
In the Lightning Round, Cramer was bullish on Kohlberg Kravis Roberts ( KKR), Computer Associates ( CA), Advanced Micro Devices ( AMD), Alliance Fiber Optic Products ( AFOP) and Petrobras ( PBR). Cramer was bearish on RetailMeNot ( SALE), Isis Pharmaceuticals ( ISIS), Best Buy ( BBY) and Smithfield Foods ( SFD).
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: Yahoo! ( YHOO), Juniper Networks ( JNPR), Coca-Cola ( KO), KeyCorp ( KEY) and Kinder Morgan ( KMI). Cramer said this portfolio "rocked." The second portfolio's top holdings included: Solar City ( SCTY), Coty ( COTY), BGC Partners ( BGCP), SeaWorld ( SEAS) and Potash ( POT). Cramer also blessed this portfolio as properly diversified.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer opined on the Apple ( AAPL) conference call. Apple is an Action Alerts PLUS holding. Cramer said if you believe the analysts, Apple is on its last legs and doing nothing right. They worry about smartphone saturation and low-end product cannibalization of Apple's high-margin products. Despite selling around the globe, the analysts only focus on China, which has traditionally not been one of Apple's strong suits. Alas, Apple has become a battleground stock, with shares rising sharply in spite of the analysts' negativity. Cramer said nothing will break this negativity except a stunning new product announcement. Until we get one, there will be little to take the stock significantly higher. 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