Though La Quinta and Box are good news for the market, there a few red flags that Cramer is seeing which could signal trouble ahead. Hence, the "Mad Money" host thought it was a good time to take a closer look at the CBOE Volatility Index, also known as the VIX. It's the gauge for measuring the level of fear in the stock market.
To gain insight, Cramer turned to Mark Sebastian, a technician and founder of OptionPit.com. The technician pointed out that last week the VIX broke out above $20, indicating that investors are expecting a higher than average amount of volatility.
"The action in the VIX is reflecting the fact that the market is no longer as safe and reliable as it used to be. It's become much more of a roller coaster," Cramer said.
The charts, according to Sebastian, indicate that a nasty selloff is in the near future. However, have no fear—in Cramer's opinion a European based pullback generally creates a good buying opportunity for investors.
"If Sebastian is right and we do get a broad based pullback, then I need you to stay calm and use the weakness to do some buying, because the U.S. economy is in good shape here," Cramer added.
Read More Cramer: Buckle up! VIX signaling major turmoil
On Tuesday morning, Baker Hughes and Halliburton reported earnings. These are two spectacular oil companies that are trying to merge. And to boot, they reported on what Cramer described as terrific quarters.
Though both companies were optimistic, they were aware that oil has been cut in half for 2015. They confirmed that there is still a significant amount of drilling happening with large programs initiated worldwide, thus providing an optimistic long-term view.
This commentary echoed that of Schlumberger on Friday, which caused it to rally to $81 from $76.
However what caught Cramer's eye is something that he thinks will weigh in heavily for the future of oil. All three companies made it clear that they still continue to drill on their best properties in the U.S., and the only way they can meet obligations is to generate more cash flow. The way to generate more cash flow is to produce more, not less, oil.
Delta also reported a strong quarter with monster revenues, piggybacking from the price of oil. This was generated due to strong customer traffic, in Cramer's opinion, due to lower gasoline prices. After all, lower fuel costs mean lower travelling costs for consumers.
The airline plans to pay down debt and return money to shareholders and is prepared to profit from lower prices of oil—making it a real winner from the windfall.
"The losers? The domestic oil companies who have to pump like mad just to stay in business."
Read More Cramer: The hot commodity opportunity of low oil
In the lightning round, Cramer continued to look for the next stocks that could be an opportunity when he gave his take on a few caller favorites:
Perrigo Pharmaceutical: "I think it's a bad cold and flu season, and I think Perrigo's stocks should be doing better. I also like all the different optionality it has with all the different possible takeovers. I want you to own it."
PDL Biopharma: "We've got so many great growth biotechs that we have been profiling on the show, I'm going to have to say don't buy."
Read More Lightning Round: I prefer this to Alibaba