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NEW YORK (TheStreet) -- "At least wait for a real dip before you buy the dip," Jim Cramer warned his Mad Money viewers Monday, after a weaker market open summoned a flood of buyers that were ultimately wiped out by the close.

What were these delusional bullish investors thinking? Cramer listed off the many reasons why these bulls got too complacent.

First up, the notion that Greece is still negotiating in good faith. Cramer reminded viewers that the current Greek leadership was elected on a platform of forgiving the country's mounting debt, not taking the austerity measures to fix them. The chance of a Greek deal? Slim to none.

Second, the notion that our U.S. markets can withstand European markets down 4%. Cramer said like it or not, our markets are linked to Europe, so our stocks will have to absorb the setback when Europe falls that much.

The third complacent misconception? None other than our own Federal Reserve officials talking about an interest rate hike on probably the worst day to talk about an interest rate hike.

Fourth, Cramer said the markets have ignored the fact that Greece is now cozying up with Russia, at the same time financial issues in Puerto Rico are surfacing and the rest of the world, including China, still appears to be in a bear market.

Finally, Cramer noted that the these foolish buyers somehow thought that stocks had to bounce because the fell 1%. That, he said, is not the case, especially with so many other issues that are not being taken seriously. Stocks need to go still lower before they'll be ready for a real bounce.

Building on Housing

On a day like today, investors need to be looking for bright spots in the market so they can get their shopping list ready for when the big decline finally arrives. What's looking up in the markets? Housing.

Home buying levels have finally returned to 2006 levels, but unlike 2006 everyone getting a mortgage today is more than qualified for their loan. Additionally, home prices are rising, smartly, year over year, finally dispelling the notion that owning a home is the quickest way to lose your shirt.

With over two million new households expected to be created this year thanks to an improving job and housing market, Cramer said home builders will once begin to start developing all that land they've been hoarding these past few years.

What does all this good news mean for stocks? The obvious choice remains Home Depot (HD) and Lowe's (LOW), Cramer concluded, because spending on your home has just flipped from being an expense to an investment.

Tied Up in Nike

Just when you thought all was lost in the stock market, Nike (NKE) reminds us why we invest in the first place. Last week, Nike blew away the estimates with a 16-cents-a-share earnings beat on 14% revenue growth on a constant currency basis. Even in China and Europe, where everyone else says sales are sluggish, Nike managed to deliver.

Nike remains a global powerhouse thanks to its continued innovation. With new products like its ulta-light but ultra-strong Flyknit shoes, to its new apparel products with space-age, high-performance fabrics, Nike's only remaining competition appears to be Under Armour (UA), and there's more than enough room for both companies.

Nike even scored a win with its Air Jordan shoes, first introduced in 1984, that continue to sell for upwards of $225 a pair. Add to that a direct-to-consumer business up 15% and an ecommerce division racking up $1 billion in sales and its easy to see why Nike remains the king of athletic apparel.

Yet, despite its many positives, shares of Nike still trade at just 23 times 2016 estimates, leaving plenty of room for shares to trade still higher as the company transcends any and all perceived weaknesses.

Fabulous G-III

Investors looking for a fabulous family-run business that also happens to be a great value should take a peek into G-III Apparel (GIII), a stock that's up 40% so far in 2015 and over 200% in just the past two years.

Cramer called G-III one of the most under-estimated companies out there, thanks in part to its non-promotional nature and its unique family-run nature that makes it hard for Wall Street to fully appreciate.

G-III started off as licensing brand name apparel, both in the fashion world as well as with many pro sports franchises. But the company has also begun buying up unwanted brands, most recently Bass footwear for $50 million.

In just a short time, G-III has been able to leverage the Bass brand to create value, selling items both in the wholesale and retail channel and reinvigorating the brand with new products and extending it with mens' apparel. G-III last reported that same store sales for Bass increased 17% as a result.

Shares of G-III trade at just 22 times next year's earnings, despite having a 19% growth rate. That makes G-III a must buy on the next market pullback in Cramer's book.

Lightning Round

In the Lightning Round, Cramer was bullish on Molson Coors (TAP), T. Rowe Price (TROW), Wayfair (W) and Duke Energy (DUK).

Cramer was bearish on Wisconsin Energy (WEC) and Herman Miller (MLHR).

Immune to Chaos

"We're stuck with our new connected global economy," Cramer conceded to his viewers. But while the troubles in Europe may cause investors to indiscriminately sell S&P 500 futures here in the U.S., there are still some groups that are immune to the chaos. One of those sectors, the biotechs, don't trade on global politics, they trade on future unmet medical needs, needs that aren't going away anytime soon.

Cramer said his favorites among the speculative biotechs is Receptos (RCPT), an immunology company developing one drug which may be able to combat multiple diseases such as multiple sclerosis and Crohn's disease, among others.

Also making Cramer's list was Alder Pharmaceuticals (ALDR), a company working on drugs to treat chronic migraines and arthritis. Alder trades on its latest clinical trial data, Cramer noted, and not on the latest Greek negotiations.

Finally, there's Radius Health (RDUS), a company working hard to treat bone density diseases like osteoporosis.

All of these stocks don't often pull back and give investors a good entry point, Cramer concluded, but thanks to Greece, that's just what we may get in the coming days.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.

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