Cramer noted that a recent article in the New Yorker had really captured his attention with author Dr. Jerome Groopman talking about new drugs that control cancer without killing it. Given the effectiveness of this new treatment, Cramer thinks the maker of the drug, Agios (AGIO), belongs on your radar. "Plenty could go wrong, so it's not for the faint of heart. However, if all goes right, the maker of these drugs could be a terrific investment."
Read MoreCramer: Could new drug ultimately arrest cancer?
In addition, Cramer turned to technical analysis from Carolyn Boroden to determine if sell offs in Apple (AAPL) and Amazon (AMZN) presented opportunities.
Read MoreSeeking opportunity, Cramer eyes Apple decline
Cramer is also tuned into LifeLock (LOCK), a company that provides identity theft protection services on a subscription basis. Given the recent security breach at Home Depot, Cramer wonders if more people will be looking to protect themselves with a service such as LifeLock.
In the Lightning Round, Cramer talked with several callers about airlines stocks. "I'd rather own Southwest (LUV) right now," he said. "They've got momentum. After that I'd go with Spirit (SAVE). Then I like American (AAL), then Delta (DAL), then United (UAL)." He also noted that Ciena (CIEN) was too inconsistent and said he'd ring the register on at least a portion of a position in RF Micro Devices (RFMD).
And Cramer also looked at the state of the global economy. "The world is slowing. It might even be slowing fast. At times like this we need to be thinking about what's happening overseas because it is controlling all of the industrial stocks, which are going down for real reasons that have nothing to do with the Alibaba cash-raising effort," Cramer said.