The right time to buy this stock

Cramer: It's the right time to buy this stock
Cramer: It's the right time to buy this stock   

Jim Cramer can't help but relate oil to the famed childhood story of "Goldilocks and The Three Bears," with poor little Goldilocks, who likes cheaper oil, facing off with the three big, bad bears who need oil to go higher. Wait, isn't Goldilocks the hero in that story?

On Tuesday big bad papa bear mauled little Goldilocks, sending the market down once again on fears related to low energy costs, Russian economic troubles and the Federal Reserve's policy decisions.

Cramer went through the story of each bear Goldilocks must ultimately face before stocks can go higher.

The first bear is Brazil, with the gigantic national oil company Petrobras. The company is on the verge of collapse and has announced it will cut its exploration and production budget in order to save cash. Next, are the smaller oil companies in the U.S. that have a stake in places like Marcellus, Utika, Bakken, Permian, Eagle Ford, Niobrara and Mississippi shales. These companies need oil to go back up, especially if they purchased land in the past two years. Then, there is the biggest and meanest bear of them all: Russia. It's falling apart, to say the least. And to boot, its biggest asset is oil and gas.

"Oil bounced back hard today, which is fine after it's been cut in half, although it couldn't really hold its own. Still, it did bounce, and if there were no bounce it would mean that things are pretty catastrophic."

So while little Goldilocks does have her work cut out for her fighting the bears, there could be a boom on the other side of it. Low gasoline prices fueled by a strong economy could be unstoppable once they get Russia, Brazil and oil woes out of the way. Then it will be unlimited porridge for all.

Read MoreCramer: A boom is coming, thanks to Goldilocks

Restoration Hardware
Tony Avelar | Bloomberg | Getty Images

If you're writing up your shopping list of the top stocks to own for 2015, Restoration Hardware is near the top of Cramer's list.

The "Mad Money" host was blown away when he listened to the stunning video conference call that this company had recently. Not only do they have gorgeous stores but they had astounding growth as well, announcing a 22 percent gain in same-store sales. They also talked about upping company revenues to $4 billion or $5 billion from $2 billion. Wow!

Cramer spoke with Restoration Hardware's CEO Gary Friedman, to find out how they have managed to triumph during a time when most other retailers claim that the mall is dead.

The CEO explained the necessary humanization of retail that has brought them to the top of the food chain when he stated, "If you think about the retail stores that have been built over the last 30 to 50 years, most retail stores are archaic windowless boxes that don't have any sense of humanity. There are no windows, there's no fresh air, there's no natural light. Plants die in a typical retail store."

Read MoreCramer's top stock for 2015

Another Cramer fave in the retail space is Columbia Sportswear, where investors are finally seeing a bit of a pullback. This stock has had a great run, jumping to $45 from $35 in four weeks. Cramer sat down with Columbia CEO Timothy Boyle to find out if this could be a great window for a buying opportunity.

Columbia makes outdoor apparel, footwear, accessories and equipment that have dominated the retail space for years. Could the stock just be suffering from wintertime seasonality?

"You have seasonality with more expensive products in the wintertime, and you have this holiday at the end of December. It's hard to balance the seasonality, but we have really focused on internationalizing the business, growing the business in South America, Central America and building products that are great for summertime," Boyle said

Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.
Frank Polich | Reuters
Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.

As oil floods the market faster each day, one thing that Cramer thinks there is just too little of is U.S. bonds. A spoonful of U.S. bonds is just what the world needs right now.

"I think the bond market right now could easily handle the entire $2.5 trillion that the Fed has under management, and rather than just hold them to maturity, the Fed could book huge gains for the taxpayer, enough perhaps, to even dent the deficit," he said.

The "Mad Money" thinks this would be the greatest trade of all time. It could boost treasury liquidity and create a pseudo-rate rise by inflecting the yield curve.

Think about it – this could be a once in a lifetime situation where everything really could play out with a perfect ending. What a great opportunity the U.S. has right now to create opportunity from the weakening global atmosphere.

Read More Cramer: Why the world needs more US bonds

If you are looking to make a few extra dollars on yield at time when interest rates are low, Cramer recommended Dominion Resources.

This is one of the largest gas and electric utility companies in the U.S. and is growing like a weed. It runs a traditional electric utility business in Virginia and North Carolina, and also has a growing natural gas transmission and distribution business in the Marcellus and Utica shale region.

To find out just how strong the pipeline is for Dominion, Cramer spoke with its CEO Tom Farrell.

"Very strong growth for us. Over half the internet traffic in the United States goes through our service territory in Virginia. They come here because we have a reliable electricity and a very low rates," the CEO said.


In the lightning round, Cramer pointed out the stocks that just might be the right time to purchase:

Kinder Morgan International: "I think the dividend is safe, it's covered by cash flow and they have a small exposure to the commodity. All of these pipeline companies have a degree of exposure to the commodity, but I think Kinder is in terrific shape...Kinder Morgan has a terrific yield, great management and I think it is the right time to buy the stock."

Chevron: "If you can get it under $100 than you'll get that nice yield ... You'll have to wait until about $95 to average in, and that will give you a 4.5 percent yield and that would be a decent level."

Read MoreLightning Round: This company's in the sweet spot