In the end, Cramer said he still believes Whole Foods in best in show. But while the stock continues to make the transition from growth to value, investors will need to sit on the sidelines until the stock gets so cheap that it will be impossible to ignore.

Alibaba? NO!

"Wrong, wrong, wrong." That's how Cramer characterized the upcoming initial public offering of Alibaba, China's largest Internet e-commerce destination. Cramer said the markets needs this deal like it needs a hole in the head; unfortunately, the deal cannot be stopped.

Cramer said while it's true Alibaba is profitable and does have 57% revenue growth, along with a whole lot of hype, the only thing investors should be asking is, "Where will the money for this mega-IPO come from?" The answer, he said, is from every other stock in the market.

Alibaba will act as a magnet, Cramer continued, sucking money out of what little bull market exists.

Cramer said he's suspect of the company's ownership structure, for one. Yahoo! (YHOO) owns a 23% stake in the company and plans to sell at least part of that stake to fund its growth elsewhere. "If Yahoo is a seller, why should I be a buyer?" Cramer asked.

Then there is the political and financial risks associated with owning a Chinese company. China's economy appears to be decelerating by the day, said Cramer, and that doesn't bode well for Alibaba.

Cramer said the Alibaba deal is the wrong type of business, coming at the wrong time, from the wrong country. No matter whether it succeeds or fails, the rest of market loses.

Executive Decision: Adam McKim

For his "Executive Decision" segment, Cramer spoke with Adam McKim, chairman and CEO of Clean Harbors (CLH), a stock that's been trading sideways since early 2012.

McKim admitted that Clean Harbors did overpay for its acquisition of Safety-Kleen 15 months ago, and the company does have a lot of work left to do to fully integrate that acquisition, and others, into the Clean Harbors family. Ultimately, however, McKim said Safety-Kleen will be a "home run" for Clean Harbors.

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