This is a sad market. Can someone please feed it some antidepressants? Anything that is positive is automatically interpreted as negative. But Jim Cramer refuses to look at it that way. He's got his rose-colored glasses on and is ready to do some buying into weakness.
Yes, oil prices are hitting dangerous prices. Yes, interest rates are low. As logical as it might seem to sell oil stocks and financials right now, Cramer warns against it.
"I think that when the market recovers from its bout of selling, there might not be all that much opportunity to get back in. You will have missed the pullback you have been waiting for," the "Mad Money" host said.
Just surrender. It is painful, but he would rather think about all of the buying opportunities that the weakness creates. Remember the Ebola scare? That was an opportunity.
So now the question becomes-are you using this pullback as an opportunity? Or are you panicking altogether? Cramer is standing his ground. He's not calling for people to get out just yet. The situation isn't as bad as most think.
After such a hideous day on the averages, Cramer turned his attention to biotechs, which were one of the best performing sectors of 2014. It was crushed on Tuesday as well.
But here's the thing, this group wasn't just a winner in 2014. They have consistently done well for the past four years. Cramer expects that it will crush the S&P 500 in 2015 as well.
Thus, Cramer named the 10 best biotechs of last year that he has his eye on. They are OvaScience (OVAS), Agios Pharma (AGIO), BlueBird Bio (BLUE), Receptos (RCPT), TG Therapeutics (TGTX), Prosensa (RNA), Achillion Pharmaceuticals (ACHN), Amicus Therapeutics (FOLD), PTC Therapeutics (PTCT) and, last but not least, Esperion Therapeutics (ESPR).
Even though the cohort was smashed into smithereens on Tuesday, Cramer still thinks this group will roar into 2015.
"So many of these biotechs have transcended the one-drug-wonder mentality and are now developing technology platforms that could help them create many big drugs, which is why I think it makes sense to buy an Isis (ISIS) or an Agios (AGIO) into the weakness that we had today."
Now that Cramer has circled back to winning stocks, he has nominated the losers from last year. Cramer is interested to see if these dogs of the Dow that cost investors money last year, will turn things around this year.
First was McDonalds (MCD), followed by AT&T (NYSE:T), Boeing (BA), Verizon (VZ), Exxon Mobil (XOM), General Electric (GE), Chevron (CVX) and IBM (IBM).
"When it comes to the dogs of the Dow, some of these names can turn things around in 2015, but the oils are headed lower, GE's stuck in neutral and IBM's in the house of pain," Cramer added.
In a couple of months, the raging bull of the stock market will turn six years old. The average bull market only lasts five years, and Cramer is wondering if investors need to start worrying about the health of the bull.
To find the answer, Cramer once again turned to the charts to see what they predict. He has taken a step back with Ed Ponsi to take a good look at the big picture for the averages. Ponsi is a technician and managing director of Barchetta Capital Management, as well as Cramer's colleague at RealMoney.com. According to Ponsi, this could be one of the best years to own stocks. Why? Because of the U.S. presidential election.
"It's not just that the market tends to rise during the year before a presidential election. It's the consistency of this pattern that is so impressive," said the "Mad Money" host.
And there is more, the stars have aligned politically as well, assuming all political beliefs are put aside.
According to the average performance of the Dow industrials from 1949 to 2011, a Democrat president with a Republican Congress is good news. Since 1949, the average Dow return with this political combination was 19.5 percent. Wowzer!
Additionally, Ponsi sees that there is a pattern in decades that will help the averages as well. As strange as it sounds, the stock market tends to have top performance in years that end in the number five. Like, let's say... 2015. The Dow Jones has seen an average gain of 28.9 percent for years ending in 5, going back to 1895.
When it comes to oil Cramer has had enough already! He is hearing opinions flying all over the place on the hazards of low oil prices. So here are the facts-not opinion, not speculation-just good, hard facts.
Some 16 states benefit from high oil prices, of which six really rely on oil for job growth. Approximately 10 percent of the U.S. lives in those states. That means that even if every one of those people in these states were to get hurt by oil, there are still 290 million Americans who will benefit.
Just 1 percent of employment growth in the past four years has come from oil jobs, 2 percent if you include oil-related jobs.
"Those two numbers, 290 million and 2 percent, tell you that the vast, and I mean vast, majority of Americans see a huge benefit from this decline in crude. It's basically the equivalent of a gigantic tax cut," said the "Mad Money" host.
In his opinion, this isn't a time to run for the hills. If oil were going up, then he would be telling you to sell. Instead, this is a time to buy, buy buy as oil gets lower and lower.
In the Lightning Round, Cramer continued to spot stocks with weakness to buy into when he gave his take on a few caller favorites:
CVS Corp (CVS):"I'm going to give you a triple. I like Walgreens, I like Rite Aid and I like CVS. I like all three. CVS isn't down enough, and the others are. But if you put a half position on it now, and let the rest of it go back down to $93 or $92 I think you'll be fine."
Integrys Energy (TEG): "I don't want you to buy more. You've had a big run here. Let's not fool around. If anything, I would take some off the table."
