With the market taking a nosedive on Monday, sellers came out of the woodwork to unload stocks. It also gave cause for Jim Cramer to think about the direction of the market for 2015, and the stock winners of 2014.
What caused Monday's decline? Was it the new low in the price of oil? The strong U.S. dollar? Maybe it's not that complicated.
"After a 12 percent positive year, you have lots of investors just trying to lock down some good gains. I can't blame them," Cramer said.
With the decline, the "Mad Money" host took the opportunity to review the Top 10 silly preconceptions that served as alibis to justify selling in 2014. These are lessons that can be applied on down days like Monday to keep investors grounded in discipline.
Lessons learned included sweeping preconceptions that lead to wrong conclusions, don't sell too soon and Cramer's warning not to buy stock in companies that are in commodities going down.
Read More Cramer's 10 lessons learned from 2014
As oil breaks through $50, those oil stocks sure look tempting don't they? There is chatter everywhere that maybe the selloff in oil stocks could finally be overdone.
Back away from the oil stock. Do not touch, by order of Cramer.
The problem is the numbers and the ratings. They have not come down yet, and they have to.
"Many companies bet the farm on higher prices right into the oil top predicting tight conditions for the next several years. They didn't realize that they were sowing the seeds of their own pricing demise with their success coupled with a rather dramatic decline in demand overseas," he said.
And it is not going to get better any time soon. Cramer anticipates that the oversupply in the U.S., partnered with lack of demand overseas will get worse before it gets better.
In order to get to what Cramer describes as the "uncertain promised land" of oil, investors should buckle up for more cuts and many more downgrades ahead. Then maybe he will entertain the thought of buying low priced energy stocks.
Read More Cramer on oil: Analysts are your enemy
Every year, the "Mad Money" host takes the time to sit down and look at each company in the Dow Jones industrial average, and predict where it is headed. He has hand-selected his list of Top 5 Dow stocks of 2014, which he thinks will help lead the way for the year.
"Put it all together, and I think the venerable index can mount another 10 percent rally for 2015."
The winners? Cramer's top dogs for 2014 were Intel, United Health, Home Depot, Microsoft and Cisco.
So on a down day, Cramer reminded investors that there are still a lot of high quality companies out there with stocks that had fabulous performance in 2014. He thinks these Top 5 stocks will serve as leaders for 2015 and are worth investing in.
Read More Cramer's Top 5 Dow stocks of 2014
To elaborate on what the networking kingpin could have to offer for 2015, Cramer spoke with Cisco Systems CEO John Chambers.
The company recently shifted its focus toward delivering more software and cloud-based solutions. However, more software could also mean more cybersecurity risk. Where does Chambers see the future of cybersecurity in the next five years?
"Security is a must. You and I talked about how there is no such thing as a secure environment a year or two ago, and that has turned out to be very true…I think the market is still way too conservative on the loads on networks and the amount of information," Chambers said.
Additionally, Chambers commented regarding the pending litigation with Arista Networks. Cisco filed patent and copyright infringement charges against the startup, which is headed by former Cisco employee Jayshree Ullal.
"I don't think anything personal on this, I just think about every decade we have to remind our peers that we do invest in our future innovation and we will hold people accountable not to copy that."
One stock that rallied in Monday's session was Isis Pharmaceuticals. This stock climbed 10.72 percent after it announced a major partnership with Johnson & Johnson to develop antisense drugs for autoimmune disorders that affect the gastrointestinal tract.
With 34 different development programs in its pipeline and now this partnership with JNJ, it's not hard to see why this is a Cramer fave stock.
To get the scoop, Cramer spoke with Isis Pharmaceuticals CEO Dr. Stanley Crooke. The CEO elaborated on the partnership, and explained that it will expand the innovation of technology because the treatment is focused on oral administration for local treatment of gastrointestinal diseases.
"That is a space that is new for technology but is adjacent to areas we have worked before, so we have high confidence it can work and expand the breadth of the utility of technology. I think that's the thing that should get people the most excited. It's one more notch on the belt of all of the opportunities that we have to take advantage of," Chambers said
Cramer continued to search for the winners of Monday's downslide when he gave his take on a few caller favorites in the Lightning Round:
Sprint: "I think now you just have to hold it. It would have been great at $6,$7 or $5, but not here. It's too low. I do think it can go to $3.50, but that's being too clever by half."
Sierra Wireless: "A good company, but right now I prefer for you to go with a combination of Cypress and Spansion, which has a lot more room to grow."
Read More Lightning Round: The scoop on Apple