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NEW YORK ( TheStreet) -- Forget about bottom fishing for bargains, Jim Cramer announced to his Mad Money viewers Tuesday. If investors want to find winners in this market, they need to fish from the 52-week high list.
Bottom fishing in this market has been a disaster, Cramer told viewers, which he knows first-hand thanks to Vale (VALE - Get Report) , a stock Cramer, regrettably, owns for his charitable trust, Action Alerts PLUS and the company that rang the opening bell today on the New York Stock Exchange. Shares of Vale are down 40% in 2014, yet they keep hitting new lows with no signs of stopping. Without growth in China, Vale has no chance of rallying, Cramer conceded.
What about high-yielding stocks? Cramer said even a double-digit dividend yield won't shield investors from a 40% to 50% decline in a company's stock price. Just ask investors in Seadrill (SDRL - Get Report) , which today suspended its dividend; shares have fallen 67% so far in 2014. Cramer said he'd stay far away from other drillers like Transocean (RIG - Get Report) and Ensco (ESV) , another sore spot in Action Alerts PLUS.
Cramer said investors are getting burned big with automakers like General Motors (GM - Get Report) , yet another Action Alerts PLUS laggard, and in retail with J.C. Penney (JCP - Get Report) , two more examples of down stocks going even lower.
But then there are the winners that only seem to keep going higher. Cramer said that's certainly the case with biotechs like Regeneron (REGN - Get Report) , BioMarin (BMRN - Get Report) and Isis Pharmaceuticals (ISIS) . It's also the case with the airlines, he added. Why buy American Airlines (AAL) , which is up big, when you can buy Southwest Airlines (LUV - Get Report) , which is up even more?
Yes, the market is unfair sometimes, forcing investors to buy high only to sell higher. But in this market, Cramer said, to the victors go all the buyers.
T. Boone Pickens on Oil Prices
In a special interview, Cramer welcomed oil tycoon T. Boone Pickens to the show to get the real story on what's happening with oil prices.
Pickens said OPEC members will eventually have to cut their production to meet the lower demand for oil worldwide. He said while Saudi Arabia has the cash reserves to endure lower prices, many other countries, especially Russia, cannot handle cheap oil for long.
How did things get this bad so quickly? Pickens said 2014 oil growth projections just never materialized and we're ending the year with about half as much growth as we thought. However, he expects oil prices to return to $100 a barrel over the next 12 to 18 months.
As for drilling here in the U.S., Pickens said after growing production by one million barrels a day every year for the past three years, production will likely stay where it is for 2015 before going higher. He said the well-capitalized independent drillers are good buys at these depressed levels.
Stick With BiotechCramer has a new mantra that should be familiar to most investors: "Never stop loving biotech."
Cramer said in a world that's dominated by headlines about Russia, China and the woes of Europe, biotech is perhaps the only sector where investors can still catch lightning in a bottle, as shareholders of Biogen Idec (BIIB - Get Report) did today on news that the company's Alzheimers drug is proceeding as planned.
That news sent shares of Biogen up 6.4% in the day's session, and comes on the heels of other positive news regarding the company's multiple sclerosis drug.
Cramer said Biogen isn't a flash in the pan, it's a thoroughbred that, like its peers Celgene (CELG - Get Report) and Regeneron (REGN - Get Report) , have strong pipelines and partnerships that will continue to reward shareholders for years to come.
Executive Decision: Angel Martinez
For his "Executive Decision" segment, Cramer sat down with Angel Martinez, chairman, president and CEO of Deckers Brands (DECK) , a stock that's up a quick 16.5% since Cramer last checked in just five weeks ago.
Martinez said the colder it gets, the happier he is for the company's Uggs brand of products. But the Deckers product lines are now diversified enough that the company does well no matter what the weather is like outside.
Martinez continued that Deckers has something for everyone, and customers are constantly surprised by what they find both online and in stores. Deckers has a story to tell year round.
For example, Deckers' fairly new Hoka brand is now the number five brand in running shoes. Martinez said that brand is just getting started and the company is already looking into expanding into track shoes to complete the line for all types of runners.
When asked about the mood of consumers, Martinez said the middle class is still getting squeezed, which means they don't just look for price, they look for value and quality.
Finally, Martinez noted the many gift opportunities Deckers now offers, including hats and scarves that help complete the lifestyle story the company is trying to tell.
In the Lightning Round, Cramer was bullish on MasterCard (MA - Get Report) , Visa (V - Get Report) , HollyFrontier (HFC - Get Report) , Randgold Resources (GOLD - Get Report) and PPL Corp (PPL - Get Report) .
Executive Decision: Kevin Miles
In his second "Executive Decision" segment, Cramer sat down with Kevin Miles, president and CEO of Zoes Kitchen (ZOES) , a small but speculative restaurant chain that's seen its shares fall even as gasoline prices have been declining.
Miles said customers are still seeking out fresh foods that offer quality and transparency as to where that food comes from. That's why Zoes appeals to much to moms, who are often the decision makers when it comes to where their families eat.
When asked about the menu items, Miles explained Zoes offers traditional Mediterranean foods from a variety of countries in that region. Given the diverse menu options, Miles said he's confident his company can deliver the 1,600 locations across the U.S. the company has promised investors over the next few years.
Finally, when asked about the tailwinds from lower gasoline prices, Miles confirmed that cheaper gas does put more money in consumers' pockets, which is great for both restaurants and retailers across the country.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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-- Written by Scott Rutt in Washington, D.C.
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