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NEW YORK ( TheStreet) -- Sure, the markets can bounce, but will that bounce last? That was the question Jim Cramer asked on Mad Money Tuesday as he revisited his list from last night's show of 10 things that need to go right before the market can have a sustainable rally.
Cramer recalled that one of those things was a stabilization of Europe, something that may be in the cards if today's headlines are to be believed. According to reports, Germany may be more amenable to adapting its polices to meet deteriorating economic conditions. Cramer said Germany's current balanced-budget approach is simply "absurd" given reality, so today's rumors were welcomed by the markets.
Next on the list was no more bad news about Ebola, something which did happen, but is likely only a pause, Cramer admitted.
But while Cramer said he was able to check off some boxes from yesterday's list, bad news still remains in the markets, mainly traders who programmatically think lower oil prices are bad news and not good news, and hedge funds continuing to sell to meet margin requirements.
So while the markets may be able to see some midday strength, Cramer concluded that there simply aren't enough checks on his list to sound the "all clear" for investors to start buying.
Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleague Carly Garner over the direction of oil prices in light of today's vicious 4% decline. Garner accurately predicted a steep decline in oil prices back in May.
Using a chart of West Texas Crude Oil prices coupled with a Commitment of Traders, or COT, report, Garner's thesis remains that as of June there was a record number of speculators betting the price of oil would continue its surge higher. That thesis made perfect sense, Cramer noted, as the world's economies were strengthening almost by the day.
But ever since the crisis in Ukraine began and was joined by fears over ISIS in Syria and Ebola in Africa, the world's economies have been slowing and the price of oil has been falling, causing many of these speculators to sell their positions to meet margin requirements.
Garner continues to think these forced liquidations will keep oil prices in free fall, ultimately sending them to the next floor of support at $77 a barrel.
Cramer said he agrees with Garner, again, and said that at least part of the weakness in oil prices doesn't appear to be oversupply or weakening demand but good old hedge funds gone wild.
Executive Decision: Patrick Doyle
For his "Executive Decision" segment, Cramer spoke with Patrick Doyle, president and CEO of Domino's Pizza, the pizza giant that today delivered a two-cents-a-share earnings beat with better-than-expected revenue and a 7.7% increase in domestic same-store sales. Shares of Domino's surged 11% on the news.
Doyle confirmed that Domino's had a fabulous quarter with everything from food to technology to advertising all working together. He touted his company's new voice-activated ordering system as just another example of how Domino's continues to innovate and delver a better customer experience.
Additionally, Doyle noted that financing for franchisees is also improving, which is accelerating growth at a time when commodity price pressures are easing and gas prices are making consumers feel like they have more disposable income.
With Doyle not ruling out the possibility of another special dividend to reward shareholders, Cramer said Domino's continues to be a stock he'd buy on any weakness.
Executive Decision: Harold Hamm
In his second "Executive Decision" segment, Cramer sat down with Harold Hamm, chairman and CEO of Continental Resources (CLR - Get Report) , an oil driller that's seen its shares plummet from $80 to $52 as the price of crude has been in free fall.
Hamm said the decline in oil prices will eventually cause some drillers to slow down their production growth, but it won't stop America's oil renaissance from continuing.
Is America's oil boom having an effect on world oil prices? Hamm thinks it is. Given the increasing turmoil in the Middle East and Russia, Hamm said prices would be significantly higher if not for America's oil boom helping to stem the volatility.
When asked where he sees oil prices going from here, Hamm said the markets are close to a bottom. He said OPEC never keeps its production high for long and, indeed, many speculators have been on the wrong side of the trade and are now being forced to sell.
Executive Decision: Charif Souki
In a third "Executive Decision" segment, Cramer sat down with Charif Souki, chairman, president and CEO of Cheniere Energy (LNG - Get Report) , another energy stock that's down 26% because of the retreating price of oil.
Souki painted a different picture of where oil prices could go, saying he sees the potential for dramatically lower prices in the short term. He said as oil prices decline, natural gas becomes less competitive. However, that hasn't stopped Cheniere's customers from making long-term bets on natural gas via long-term contracts for the company's LNG offerings.
Souki confirmed his company's first gas shipments are less than 12 months away and Cheniere's second export terminal in Texas is only three to four months away from beginning construction.
When asked about the global oil market, Souki said Brent crude prices will only be affected by the U.S. if we decide to allow oil exports. Without exports, he said, West Texas prices will continue to be hurt as the U.S. already has more crude than it can handle and production is expected to increase by another 1.5 million barrels a day.
Cramer was bearish on QR Energy (QRE) .
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-- Written by Scott Rutt in Washington, D.C.
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