Cramer Remix: Beware of this oil stock

Cramer Remix: Beware of this oil stock
Cramer Remix: Beware of this oil stock   

Amid the market's new-found stability and less volatile environment, Jim Cramer could finally focus on his strong suit—bottom-up analysis of stocks.

"This less brutal backdrop has allowed us to analyze individual stocks and make judgments the way we used to before the beginning of this miserable year," the "Mad Money" host said.

However, just because the backdrop has improved doesn't mean he loves all oil stocks yet. He warned to stay away from Marathon Oil, and said he likes Occidental better.

So despite a weaker overseas market, Cramer has retail earnings on his radar as consumers will have plenty of spare change to spend thanks to better employment and cheaper gasoline

Friday: J.C. Penney, Footlocker
J.C. Penney: Cramer is worried about this one. If apparel is bad for everyone else, then how could J.C. Penney stand out from the crowd? He thinks the business is just too hard. While some speculators love this stock, Cramer considers it one that doesn't need to be owned.

Foot Locker: Footwear, however, is one of the strongest sectors out there. So if Foot Locker gets hit ahead of the quarter, Cramer thinks it is worth buying.

"Next week we are all about earnings, most of them retail, and I think you have to pick your spots," Cramer said.

Read MoreCramer game plan: Retail earnings ready to run

Cramer has always encouraged the tried and true method of doing homework on stocks. But sometimes, all it takes is simply watching an interview on "Mad Money" to get a good feel of what is about to happen.

Two weeks ago Cramer spoke with Verizon CEO Lowell McAdam, who revealed on "Mad Money" that he would consider a bid for Yahoo's assets.

Considering that Verizon already purchased AOL and said it would consider buying Yahoo, Cramer was not shocked when Yahoo formed a committee to consider the overtures from Verizon and others. It was not a huge revelation to those that saw the McAdam interview.

"I think Yahoo goes higher, but again, let's not be surprised here," Cramer said. (Tweet This)

Read More Cramer: You should have listened to these CEOs

Ever since 2016 arrived, it brought on a massive sell-off that broke some of the hottest growth stocks out there. And even after the rally earlier this week, Cramer said many of these stocks remain troubled.

One of those stocks is Lions Gate Entertainment, the movie and television production company behind "The Hunger Games," "Mad Men," and "Orange is the New Black." For years this stock has been on fire, thanks to the endless wave of hit movies and TV shows.

Lions Gate stock more than tripled in the five years leading up to Nov. '15, and Cramer considered it to be one of the greatest growth stocks of our era. But when 2016 rolled around, the stock went into free-fall and has plummeted nearly 40 percent in less than two months.

So while the stock is so cheap that it trades at only 13 times earnings, Cramer remains worried about the company's steadily declining revenue.

"Until Lions Gate can figure out a way to grow its revenues again, I think you need to stay away from this busted stock because it could have further to fall," Cramer said. (Tweet This)

Read MoreCramer: This busted stock could fall further

Lions Gate
Source: Lions Gate

And while some stocks have been annihilated this year, there are still some winners out there. Briggs & Stratton is the maker of gasoline engines for outdoor power equipment, as well as finished products like generators and pressure washers.

The stock is up more than 20 percent year-to-date, which Cramer thinks is incredible given the weakness of the broader averages. The strength of the stock is due to a monster earnings beat reported in January, along with raised guidance from management.

To find out where the company could be headed, Cramer spoke with Briggs & Stratton CEO Todd Teske.

"Over the last two years we have come out with more innovation than we have in a long time, and that has started to show up in the margins too. So it's really the execution of the strategy and a lot of hard work on the part of our team," Teske said.

Cramer also took the time to follow up on some homework for stocks that stumped him last month. One company was Himax Technologies, as he wanted to get a fresh look at the stock before providing an opinion.

Himax is a Taiwanese semiconductor maker that specializes in making display driver chips for TVs, laptops, monitors, tablets, smartphones, digital cameras and car navigation systems — basically anything with a screen.

"Unlike Himax, Skyworks put up some magnificent 40 percent plus revenue growth last year. To me, this is a no brainer. Pass on Himax and go buy Skyworks if you want something similar," Cramer said.


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

UnitedHealth Group: "I typically don't recommend trading on this show, but this one is doing that pattern and I'm going to encourage you if you like to trade to do that."

GW Pharmaceuticals: "I still believe in the idea of having regulated cannabis as a way to be able to alleviate pain and suffering. However, we are a changed country. And this one is in the crosshairs of too much politics for me right now and it's too speculative."

Read MoreLightning Round: My blessing to trade around this stock

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