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Cramer Remix: I'm taking a cue from Ariana Grande

Cramer's taking a cue from Ariana Grande

Jim Cramer thinks that sometimes it is a good idea to break away from conventional wisdom and challenge the status quo. That means questioning popular trends and changing perspective on the investing world, even if that means one less problem on our minds with Greece.

That is precisely why the "Mad Money" host came up with five "what if" scenarios, to help investors come to their senses and decide if the current trends are friend or foe.

No. 1 What if the dollar has stopped going up?

No. 2 What if Europe really is healing? Cramer has started to see signs of strength in the retail sector in Europe. He also considers Germany to be the locomotive that is pulling the rest of Germany forward. He remembered back in 2011 when Greece was in serious trouble. The logic was that if you bail out Greece then Portugal, Italy, Ireland and Spain would want a bailout, too.

But now things are looking better in these countries. So what if Greece was kicked out of the European Union? Or what if Greece was given a 10-year deadline to clean up its act? Cramer thinks it should be just fine this time around.

No. 3 What if oil has already bottomed? Granted, oil was stronger on Monday because of the weak dollar. But when Cramer takes the dollar out of the perspective on oil, he sees that $43 is the actual price for the demand for black gold.

No. 4 What if the Apple watch is the real deal? What if this isn't really a watch, but is a medical device that happens to tell time? Cramer doesn't plan on getting rid of his watch, but he is still going to get an Apple Watch simply because he wants to have his vitals monitored.

No. 5 What if social media stocks are doing better than you think? What if they are taking a bigger share in advertising revenues because of mobile adoption? There is a rally between social media and connectivity, and the market has missed it.

Read More Cramer: 5 trends that could leave you in the dust

Source: CNBC

When Cramer looked at some of the biggest semiconductor stocks from last year, all he can simply do is sigh and recognize the fact that the market is just not turning in their favor right now.

In fact, stocks like Micron, Qualcomm and Intel all make him wonder about the entire semiconductor group.

"They are all down for the year, many by double digits, and they are flashing red for the components sector. Does that mean that the semis and their brethren are finished, some sort of secular decline?" asked the "Mad Money" host.

No. Cramer said this decline in semiconductor stocks is reflective of the long-term decline in personal computers, or PCs, because most semis are tied to them. He thinks that while the popularity of PCs is dwindling in the long term, it is not dying out for semiconductors.

"The truth is that the semiconductor group is about as strong as I have ever seen it, a fantastic leadership sector that is dominating all techs," Cramer said.

So while the software, hardware, cloud and Internet stocks might all be at a stand-still or giving investors false impressions through stock churning, Cramer doesn't think that will be the case for semis.

The key to the semis? Connectivity.

"Given the runs in these stocks, you could say that you've simply missed the move. I would come back and say, how can you possibly be so pessimistic, given that we're in the early innings of the connectivity revolution and the Internet of things, the rubric behind all of these stocks?" said Cramer.

Read More Cramer: These semi stocks will blow up the future

Occasionally, Cramer will see that the market gets it wrong. That's why he is always encouraging investors to do their own homework and come up with their own conclusions.

Last Wednesday, Williams-Sonoma reported what many thought was a disappointing quarter. The company's earnings were impacted by the West Coast port slowdown when revenues were not up to expectations.

Before investors heard what management had to say on the conference call, the stock was slammed to $78 from $80.96. However, when Cramer dug deeper, he found that Williams-Sonoma is not the troubled company that most thought.

"Williams-Sonoma is a steal at these levels. You can't let a one-off problem like the now-finished port slowdown scare you away from a high quality stocks, and Williams-Sonoma is as high quality as they come," said the "Mad Money" host.

Andrew Harrer | Bloomberg | Getty Images

There are some companies so consistent and well managed that Cramer wants investors to consider their stocks to be core holdings in their portfolios.

3M is one of those companies. When most people think of 3M, they think of Scotch tape and Post-it Notes. But the reality is that 3M is so much more than that.

3M is in an epicenter of innovation with diversified businesses all over the world. Its products range anywhere from healthcare and safety to electronics, energy and graphics.

Can 3M continue to reign as industrial king for the future? To find out, Cramer spoke with CEO Inge Thulin.

Thulin said the secret to the success is innovation, noting that about a third of the company's current product line did not even exist five years ago.

"That is also why you can stay relevant to your customers. That is an important metric that we are focusing on," Thulin said.

The CEO explained that the company made a decision to be a part of the technology and demographic change that has occurred all over the globe. "That also means you need to get leaders in place that understand context, which I call context intelligence," he said.

Read More 3M CEO to Cramer: The secret to staying relevant

One area that Cramer does not consider a core holding is the biotech space, which has had an enormous run recently. Cramer knew this would lead to profit taking eventually and didn't blame investors one bit if they want to ring the register on these stocks.

However, the "Mad Money" host thought it would still be valuable to revisit those stocks that callers previously called about and he did not recognize at the time. Now that he has done his homework, he's ready to comment.

The first was Intrexon, and while the stock had an interesting story of growth, Cramer has a hard time valuing it. He recommended letting the stock come down before any consideration is taken to buy it. And if you own it, ring the register.

Next up was Coherus BioSciences, which Cramer found was a very volatile stock for a generic drugmaker.

"This is not the moment to play with speculative, small-cap biotech stocks that are losing money and might not have any major products on the market for years to come," he added.

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

Lowe's Company: "That is a featured performer...I'm holding on to that one. Home Depot is real good, too. "

Vipshop Holdings Ltd ADR: "It is the best of the lot, those days there. I think it can go higher, but I'm not crazy about the Chinese market. Be aware that this one may be overstaying its welcome. I am blessing taking some off the table. "

Read More Lightning Round: This has overstayed its welcome