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Cramer Remix: I want to party with this stock

Abigail Stevenson
Cramer Remix: I want to party with this stock

Any time Jim Cramer sees a day like Tuesday, where the averages start out the day getting hammered and then come roaring back, he wants to know what the heck is driving the psyche of the market. When you know what is driving the tape, then investors can get their favorite stocks at the best prices.

"I like to judge a market based on how stocks react to earnings. If they go higher on better than expected numbers and raised guidance, then I know the market's behaving rationally," the "Mad Money" host said.

But what is the most important thing to Cramer? The dollar (Exchange: USDEUR).

"This thing, this currency, has become the source of the U.S. economy. It has made our companies pushovers versus the rest of the world. We are pathetically allowing virtually every other country to devalue their currency so they can club our companies and let theirs prevail," Cramer said..

As far as he is concerned, there has to be a sign that the dollar is peaking in order to have any sort of sustained rally right now. So, as soon as investors see this sign, they should jump up and down and applaud the greenback's decent.

"Today we saw this market's true colors. A superfreakin' powerful dollar is, at this point, an abomination for stock prices...You get a cheaper dollar, and our stock market can ultimately follow in the footsteps of PVH and go higher. Otherwise, forget about it," Cramer said.

Read More Cramer: Superfreakin' dollar killing stock prices

Cramer has lately received a lot of questions from investors who are wondering if they should buy stocks like Whole Foods (NASDAQ: WFM) and Sprouts Market (NASDAQ: SFM). His answer? Welcome to the most overcrowded group of stocks out there.

The "Mad Money" host understands why they seem appealing, too. Whole Foods has a price tag of $41 and is down more than 18 percent for the year. Even Sprouts Market is looking pretty delicious for a buy, as it is down 10 percent year-to-date.

But it was Cramer's interview with Target (NYSE: TGT) CEO Brian Cornell on Monday that woke him up to the dangers of bottom feeding in the natural and organic food space. Cornell shared that he wants Target to grow bigger into "wellness" and confirmed that the company is just getting started on its expansion of the food aisle.

"I say welcome to the most crowded area of the supermarkets and big-box business these days, because it's a double-digit-growth category at a moment when supermarkets have zero to low single-digit growth in their center of store merchandise," Cramer said.

Sure, natural and organic sales are surging this year, as some have estimated the market at almost $40 billion. Some may think that this means there is room for everyone. Cramer does not agree.

"So I come out and say, be careful here with bottom-fishing in the narrowly focused natural and organic supermarket stocks," Cramer added. (Tweet This)

Read More Cramer: Stop bottom-feeding this overcrowded group

Speaking of stocks that are on fire recently, what the heck happened to Denny's? This once sleepy chain of restaurants has been sizzling, with the stock nearly doubling in a 10-month period from July to April.

However, since it hit an all-time high on April 15 the stock has been slammed. When Denny's reported, a little less than a month ago, it delivered a 1 cent earnings beat from a 9 cent basis and higher-than-expected revenues and same-store-sales growth.

Yet, because of the dark orb that has been hanging over all restaurants, its stock tumbled more than 3 percent the day after it reported.

Could the lower price of oil set Denny's stock up for a bigger grand slam? To find out, Cramer spoke with Denny's CEO John Miller.

"Historically, it is not correlated at all to restaurant sales. But I think it dipped so much that the story came out and it was timed at the rise of a lot of people going back to work and going to eat out a little bit more, so it gave a little bit of a mixed signal," Miller said.

Often, Cramer sees that when the entire market rallies, individual stocks that were once loved fall out of favor. When that happens, does it mean that these high-flying stocks are taking a quick breather before going higher? Or have they totally lost their mojo?

Chipotle, Monster Beverage and LuluLemon are three stocks that have been red hot lately, but all have started to crash. To find out what could be in the future for these players, the "Mad Money" host turned to Ed Ponsi, a technician and managing director of Barchetta Capital Management and Cramer's colleague at RealMoney.com.

Ponsi pointed out that while these three stocks have been leaders in the past, investors should not expect leaders to last forever.

"A bull market is like a relay race: One or two sectors will take the baton at any given moment and set the pace, but after they've run their course they'll pass the baton onto the next leadership group," Cramer said. (Tweet This)

Ponsi found that Chipotle (NYSE: CMG), Monster Beverage (NASDAQ: MNST) and LuluLemon (NASDAQ: LULU) are classic examples of generals who have recently been demoted. All have some pretty scary looking charts.

"These are high-quality companies, and at a certain level I think their stocks will become too attractive to ignore," Cramer said.

Read More Cramer: Buy on the dip of 3 high flying stocks?

Now that the high flying stocks are out of the way, Cramer wanted to give investors a chance to get a better look at how the global economy is doing. Sometimes that means speaking to the leaders of major foreign companies, even if their stocks do not trade in the U.S.

One of those companies is Saint-Gobain, the 350-year-old French company that is the leading global provider of construction materials such as glass, roofing, siding and insulation. The company was founded in 1665 to manufacture mirrors for the original construction of Versailles.

The company has also made its mark in history, by refurbishing the interior of the Statue of Liberty with safety glass, making the glass for the Whitney Museum's windows in New York City and helping to rebuild the World Trade Center.

And while it has lately been in a heated legal battle to buy Sika, the company has a long history of making smart acquisitions. Can the wisdom of this company catapult it higher into the future? To find out, Cramer spoke with the Saint Gobain CEO Pierre-Andre De Chalendar and North American CEO John Crowe.

"I think we are effectively going to benefit a lot from the recovery that should happen in Europe in construction, after the one that has already started to take place in the U.S. But we are not at the end of the recovery in the U.S.; we are about halfway, and I think we are going to benefit from that," Chalendar said.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

General Electric: "Slow and steady will kind of tie the race. I think it's going to go up over time. You get that dividend-and keep reinvesting the dividend-and I think you'll do fine. I don't think you'll shoot the lights out, but I think you'll do fine."

Party City: "When they rolled out a lot of the different recommendations, they were almost all positive. Therefore, I think that you've got another quarter or two that are going to be very good. I'm on your team, I like it."

Read More Lightning Round: The secret to General Electric

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