Navigating peaks: Profit from perilous landscape

Cramer: These stocks should be sold
Cramer: These stocks should be sold   

In some ways investing is like mountain climbing. There are peaks as far as the eye can see.

Looking out to the horizon, Cramer said, some of them may be too difficult for bulls to surmount.

For example, "Industrial companies have probably reached peak profitability. Companies that need economic growth to make the numbers, the cyclical companies, most likely saw earnings peak in the third quarter."

However, Cramer added that the landscape is not impossible for bulls to navigate. In fact, Cramer said, "Not all peaks are bad." What did he mean?

Read MoreCramer: Scaling peaks inside the market


Jim Cramer Mad Money
Source: CNBC

Elsewhere in the market, Cramer investigated chatter about the death cross emerging in the charts of the Russell 2000 (.RUT). In his travels, Cramer learned that, despite the ominous name, some technical analysts believe the death cross pattern may actually be bullish over the long-term. That's right—bullish.

Read MoreCramer: Russell 2000 death cross bull signal?

Also, if you're losing sleep over the ongoing march lower in crude oil, Cramer said, there's a better way to invest.

"Cruise lines are all huge winners from the plummeting price of oil: not only do they save a fortune on fuel costs, but they also get more customers as cheaper gasoline puts more money in the consumer's pocket. I like the whole cohort. I think they're all headed higher," he said.

Cramer does, however, have a favorite stock in the space. Find out what it is.

Read MoreCramer: Why fret about low oil, profit instead

Meanwhile, Cramer also spoke with Mark Ordan, the president and CEO of Washington Prime Group (WPG), and Mike Glimcher, the chariman and CEO of Glimcher Realty Trust (GRT) to learn about their proposed merger.

"At a time when the rest of the world is falling apart and the price of oil is tumbling, what's actually worth owning? How about domestic retail plays that benefit from cheaper gasoline? And if you don't feel like picking individual retailers, you can always buy a retail-oriented real estate investment trust like this one," Cramer said.

In the Lightning Round Cramer called Starbucks (SBUX): "a good situation" and expressed concerns about Chevron (CVX). "I can see the stock trading down to $115," he said. "I'm cautious."

Also, looking at decisions by eBay (EBAY) to spinoff PayPal, as well as the $3 billion buyback announced by National-Oilwell Varco (NOV) and other market developments, Cramer said although parts of the economic cycle may have peaked for the time being, these specific action suggest it's a mistake to grow bearish on stocks, altogether. "There are simply too many companies that are eager to generate value," Cramer said.