The best stocks to own right now

In order to be successful in this market, Jim Cramer recommends investors stop bottom fishing. Rather, avoid the catfish and stick with the top players; gone are the days where the ugly stocks need to be bought.

"I know the idea of chasing winners can be upsetting, but unfortunately, 2014's been all about angling from the 52-week high list, and it won't stop now with just 20 shopping days until the end of the year," the "Mad Money" host said.

One bottom fish that Cramer addressed on Tuesday was Vale, which has the highest-grade iron ore with the lowest cost of production. But that doesn't matter; the stock continues to tank.

"Right now the major iron ore companies seem to be in a suicide pact to overproduce and drive the price down themselves. No one, neither Vale, nor BHP nor Rio Tinto, has blinked."

A few top fishes that Cramer recommended were in biotech, with stocks like Biomarin up 31 percent year-to-date or ISIS Pharma, up 33 percent. The airlines are also profiting from the low cost of jet fuel, making both Delta and American Airlines an attractive purchase. However, Cramer thinks Southwest is the real winner.

"Stocks, like sports, are unfair sometimes, and right now they're as unfair as I've ever seen. To which I say, 'So what?' To the victor goes the buyers, and that's just the way it is, at least through the end of the year."

Read MoreCramer: Cut the line on bottom fishing!


T. Boone Pickens, chief executive officer of BP Capital Management
Chris Goodney | Bloomberg via Getty Images | Getty Images
T. Boone Pickens, chief executive officer of BP Capital Management

With the recent collapse of oil, Jim Cramer turned to a real expert on the subject to get a better sense on where the oil patch is headed during this crucial time.

That is why he chatted with oil tycoon T. Boone Pickens, best known as an American business magnate and financier who chairs BP Capital Management. Cramer thinks this Oklahoma native understands the oil business better than anyone else and could shed light on the importance of OPEC and impact of Russia on the energy space.

"They didn't say they wouldn't cut, but OPEC will have to cut and that is what's going to happen. The Saudis are the ones that make the cut. They can take $70 oil and take it out 10 years they have the cash reserves that allow them to do that. But they can't do that to the rest of OPEC," added Boone.

Pickens said that the industry assumed that the demand for oil would increase in 2014, and the actual demand was half. He noted that he expects that oil will be back at $100 a barrel in 12 to 18 months.

Read MoreT Boone Pickens tells Cramer: $100 oil will return

In a market that is infused with headwinds coming from China, Russia and Europe, there is always one group that Cramer can count on: biotech.

In fact, he has been in a heated love affair with biotech for more than 30 years. While you don't get a rally from them every day, he thinks they are more reliable than any other group.

"Never stop loving biotech. That's been my mantra since the 1980s, and every day I thank my lucky stars that I haven't abandoned the concept or the stocks," the "Mad Money" host said.

Tuesday was one of those days that served as a reminder that the love is still in the air. Especially when Biogen Idec's stock soared on a positive Alzheimer's study that has improved cognition significantly in just 54 weeks, taking the drug right into Phase 3 testing.

Read MoreWhy Cramer is reminded of his love for biotech

UGG store in New York City.
Getty Images
UGG store in New York City.

One stock that Cramer thinks has the legs to run further this year, is Deckers Outdoor Corp. The maker of Teva Sandals and UGG boots reported earnings five weeks ago, and stock was slammed, though Cramer thought it reported a terrific quarter.

To find out where Deckers could be headed into next year, the "Mad Money" host spoke with Angel Martinez, the company's chairman and CEO.

Martinez shared his confidence in the winter season of retail, when he said, "The colder it is, the happier I seem to be. The product line has diversified so much now. It can be rainy, it can be chilly, it can be very cold and we are fine."

The CEO commented on the change in customer shopping trends, stating that it used to need be 32-degree weather for it to be Ugg weather. Now in the spring is even Ugg weather, too.

In addition to retail, Cramer sees a correlation that well-run restaurant stocks are a direct beneficiary to low oil.

He says Zoe's Kitchen has tapped into the fresh and natural food movement and could have a bright future.

Though this stock has been clobbered in the past month, Cramer wonders if it could it have pulled back to the point where it is an attractive buy. To find out, Cramer sat down with Kevin Miles, president and CEO of Zoe's Kitchen.

"Customers are looking for transparency in their food. They want to know what they're eating," added Miles, "Mom wants to know what she is feeding her kids. She wants to know what she is putting in her body and what she is giving her family to eat today. It's really about transparency in the menu, it's not just about calories."

The "Mad Money" host continued to find the top stocks when he gave his take on a few caller stocks in the Lightning Round:

Mastercard: "Don't just think, pull the trigger! That is one of the best stocks to own… Mastercard and Visa are going higher."

Trinity Industries: "Too controversial. Why? Because there is a question about whether people will order more rail cars and if they are not going to order more rail cars than Trinity is going to be stalled. I want to stay away."

Read MoreLightning Round: Just pull the trigger on this!