The stock capitalizing on Lumber Liquidators

Cramer: The stock capitalizing on Lumber Liquidators
Cramer: The stock capitalizing on Lumber Liquidators   

What a change in attitude! Jim Cramer is daunted by the huge swing of the averages on Tuesday, as the tune of the market changed from being rosy sunshine and to skeptical of what is going right.

"We take the rose-colored glasses off, and we see some chinks in the market, chinks that need to be stopped before they become actual fault lines, if not sinkholes that trap the bulls and crush them," the "Mad Money" host said.

So Cramer outlined the six things that currently worry him in the market—issues that need to be fixed before they become larger problems.

His concern stemmed from restaurant and retail, housing, auto sales, slow downs in the PC tablet world, China and the price of oil.

"We've seen a host of equity deals that show me the oil and gas companies aren't nearly as troubled as many thought, but we do want to see gasoline at $2 a gallon nationwide, or we lose a key prop to the nascent recovery," he added.

Read More Cramer: 6 worries that could turn into disaster

Jim Cramer Mad Money
Source: CNBC

Restaurant stocks are also flying higher, thanks to the lower price of gasoline providing extra cash to burn in consumer pockets. As a result, Cramer has spotted one stock with a terrific entry point.

DineEquity is the parent company of Applebee's and International House of Pancakes (IHOP). Even though the company reported strong earnings and both companies are number one in their respective categories, the stock has pulled back from its recent highs.

What better time to put this company on Cramerica's radar, than on National Pancake Day? To find out if the stock has more room to run, Cramer sat down with DineEquity CEO Julia Stewart.

"We have an opportunity I think to take the company to a whole new level. That's what you do with two great No. 1 brands. If you think about it, we are in the business of long-term brand building. That's what we do," Stewart said.

Cramer was also recently alarmed when he saw that Perrigo rallied more than $3 on Monday for no apparent reason. There were no news or press releases that took the stock higher. What the heck?

Perrigo is the leading maker of store brand, knock-off, over-the-counter drugs, and it also runs a mid-sized generic prescription drug business. The company missed its numbers recently, citing a weaker cold and flu season.

"But I have an idea about what might have been on the minds of people who were buying the stock: Chinese vitamin supplements, that's what," the "Mad Money" host said.

In the wake of the Lumber Liquidators fiasco concerning potentially carcinogenic levels of formaldehyde in flooring made in China, Cramer is concerned.

"Lumber Liquidators sourced American and sourced Chinese, but after the drubbing this company and its stock having suffered in the last week, I bet these guys wish they'd never heard of China," Cramer said.

The history of Chinese products is scary to Cramer. Given the scandal involving Chinese drywall that caused respiratory problems, the 2007 Mattel recall of lead-based paint on toys, the poisonous pet food issue and now Lumber Liquidators—Cramer is steering clear.

Read More Cramer blows the whistle on China

Jim Cramer Mad Money
Source: CNBC

As stocks sold off quickly on Tuesday, Cramer was left wondering; does the decline in the averages indicate that investors should be more cautious?

"I'm not necessarily saying that we're complacent here, and I'm certainly not saying that we've been riding a wave of irrational exuberance, because the tremendous rally in the averages last month made plenty of sense," the "Mad Money" host said.

Cramer spoke with Mark Sebastian, a technician and founder of OptionPit.com. He's the guy that "Mad Money" turns to with questions about the CBOE Volatility Index, or the VIX.

The VIX is also widely known as the fear gauge because of its ability to measure the amount of overall fear in the stock market. Essentially if the S&P 500 has a selloff like it did on Tuesday, the VIX should spike to correspond with a rising level of fear and volatility.

Sebastian was not worried that the VIX rose on Tuesday; that is completely normal. What worries him the most, is the timing. He believes that the market may be filled with turmoil for the next two weeks as we head into the Federal Reserve meeting on March 17, followed by the quarterly Fed news conference on March 18.

Investors are desperate to hear whether Fed Chief Janet Yellen will shed further light on when the first rate hike will happen. Sebastian pointed out that historically, the most volatile periods in the past 36 months have been associated with Fed meetings—especially those that included a press conference.

Looking at the charts for the S&P 500 and the VIX from the past year, it is a clear pattern that the market freaks out ahead of these meetings over and over again. Sometimes the VIX even heads higher, regardless if there is a selloff in the market or not. Thus, Cramer thinks it would be arrogant to assume that this time will be any different.

Read More Cramer: Get ready—Fed will cause turmoil in March

One stock that was hit hard on Tuesday was TrueCar. This volatile small-cap stock was down 7 percent, based on a negative article posted on Seeking Alpha.

TrueCar is an online platform that allows consumers to purchase cars by showing a comparison on what other people in the area have paid for the same vehicle, with the ultimate goal of providing transparency in the car buying process.

The company posted disappointing earnings just over a week ago, showing multiple declines in its revenue, unique visitors and number of cars sold. Additionally, next Thursday 33.4 million shares will be unlocked for insiders to sell. That is a huge quantity considering it has a total of 45 million shares.

"Even if you like the TrueCar story, it might pay to wait and see what happens when we get to that lockup expiry," Cramer said.

To find out where the company could be headed, Cramer spoke with TrueCar CEO Scott Painter.

"TrueCar as a company grew 53 percent year over year, and our TrueCar branded channel…had 125 percent growth. So I wouldn't say that we are declining in any way," Painter said

In the Lightning Round, Cramer gave his take on a few caller favorites:

Idexx Laboratories: "We love those guys! it quietly goes higher and higher. You've got a winner there!"

World Wrestling Entertainment: "WWE is making a comeback, and yet I still don't see the business model generating the kind of cash that I like. So I am not there. I am going to be in the don't buy camp."

Read MoreLightning Round: This quietly goes higher