Regarding the Caterpillar (CAT) quarter, Cramer said many investors had been expecting the worst. Fortunately, the company didn't deliver the worst and shares are now rallying higher.
Although the share buyback is nice and the bias is clearly to the upside, he said Cummins (CMI) was more likely to reach $140, before CAT hit $100.
Turning to technology, Cramer said it was unwise to play Apple (AAPL) into its earnings results. He added that for Apple, it's all about China right now and getting the recent deal with China Mobile Limited (CHL) right will be pivotal in whether the stock goes higher.
He argued that Facebook has come down a lot ahead of earnings on Wednesday and that the quarter should be strong. He added that the company is doing "a lot behind the scenes" and is "really starting to monetize."
Cramer also didn't like how Twitter's quarter will most likely be dependent on revenue, instead of earnings per share.
-- Written by Bret Kenwell in Petoskey, Mich.