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Cramer Remix: This stock just isn't good enough

Finally! Tuesday called for a real rally that Jim Cramer could sink his teeth into. On top of that, the "Mad Money" host saw many bullish signals that indicate that the fantastic rally could repeat itself.

"I often talk about the setup of a given day…meaning I think you can buy the market for a trade, or I don't like the setup, which, sadly has been the case for ages," Cramer said.

Cramer's attitude finally changed on Tuesday when he concluded that the setup was actually a good one. He went down his list of bullish market signs that indicate to him that we could actually have a strong foundation for this rally to repeat. However, one stock that Cramer investigated and decided just isn't good enough right now is Eastman Kodak.

"Before we get too giddy, let's remember that the Fed meets tomorrow, and if it isn't concerned about China and it says it has to raise rates quickly, then the dollar will fly up and all of this positivity will vanish," Cramer added.

Additionally, investors are due to receive oil inventories on Wednesday, Chevron and Exxon earnings land later in the week and don't forget about the rig count. For oil to stabilize, Cramer said we need inventories and the rig count to be down, and Exxon and Chevron both need to report decent numbers.

However if China, the Fed, oil and earnings all cooperate—this could trigger a rally all over again. This positive setup might seem like a tall order to some, but Cramer saw it happen on Tuesday, and thinks it could easily happen again.

Read MoreCramer: Bullish signals that the rally will repeat

Oil
Vincent Kessler | Reuters

Tuesday also brought a miraculous rebound in the oil patch as the price of crude finally went higher. But Cramer saw that even before Tuesday's positive session, there was something strange happening in the oil space.

While some oil company stocks were getting crushed day after day, some of the high-quality oil service plays were actually roaring higher.

Core Labs has managed to rally 12 percent in the past six months and reported its second consecutive better-than-expected quarter on July 22. Management also gave stronger than anticipated guidance for the next quarter and year, which prompted the stock to shoot up dramatically the next day.

Cramer always refers to this company as the scientist of the oil patch because it uses technology to analyze rock and fluids in reservoirs to help its clients find the best places and ways to drill.

So, how the heck can Core Labs' stock soar, while the rest of the oil patch is in pain? Cramer spoke with its chairman and CEO, David Demshur, to find out.

"Our clients will pay for technology knowing that the return on investment in paying us for that technology and those data sets, they will get a very, very smart return," Demshur explained.

After a brutal week on the averages with the S&P 500 losing 2.8 percent in five straight sessions due to fears of China and the Fed, Cramer was happy that the market finally had a rebound on Tuesday.

"That's why I think it is so important for us to ask ourselves whether the pain has already been baked in," the "Mad Money" host said.

To find out, Cramer turned to Mark Sebastian, a technician and founder of OptionPit.com and colleague at RealMoney.com. Sebastian is also the "Mad Money" resident expert of the CBOE Volatility Index, also known as the VIX or fear index, because it is widely used to gauge the level of terror in the market.

Sebastian saw the same pattern after the Chinese stock market crash recently, as the VIX was still well below where it was before the Greek referendum. Meaning, there is less fear now about China than when investors were freaking out about Europe.

When Sebastian sees this kind of pattern it can only mean one thing—the market is getting ready to roar again.

Read MoreCramer: The S&P is about to crush all-time highs

The U.S. stock market has been put through the meat grinder for the past week, thanks to China. Cramer knows that the Chinese stock market has become a real problem, but just how bad are things really looking over there?

To find out, the "Mad Money" host turned to Tim Collins, a technician and colleague of Cramer's at RealMoney.com, to get a better read on what the collapse in Chinese equities really means.

Looking at the daily chart of the Shanghai Stock Exchange Composite, the broadest benchmark for the Chinese stock market, Collins knew the market was troubled.

The Shanghai Composite was absolutely creamed from mid-June to mid-July, losing about one-third of its value in less than a month. So, while the market did rally for the past couple of weeks, Collins said that was nothing more than a bearish consolidation pattern where it was marking time before its next leg down.

Collins saw that the Chinese stock market benchmark does have a floor of support around 3,400, which is roughly 260 points below where it currently trades. However, he expects it to break below that level soon.

However, if the Shanghai Composite falls below 2,700, then Collins says we would be looking at almost an exact repeat of when the U.S. market tech bubble burst, back in 2000.

Charts show that from October 1999 through the summer of 2001, the Nasdaq Composite showed stunning similarities to the Shanghai Composite today.

"The rally was incredibly similar, and now the decline is following virtually the same trajectory, too," Cramer said.

Read More Cramer: China looks like Nasdaq's collapse in 2000

Another group that has been getting quietly slammed lately are the agricultural commodities. However, despite the falling prices of soy, wheat, corn and cotton, many companies in the agricultural space have planned wisely and have been able to deliver a solid performance.

AGCO Corporation is the world's third largest maker and distributor of agricultural equipment, such as tractors and combines. And while crop prices have dropped dramatically, AGCO's stock has rallied some 15 percent for the year, despite the fact that the company's sales and earnings have declined significantly year-over-year.

Nevertheless, AGCO reported on Tuesday morning and delivered a 25-cent earnings beat from a $1 basis, with in-line revenues. Additionally, management gave a much higher than expected full- year forecast on the top and bottom line.

So, if the stock can climb amid falling crop prices, what can it do once agricultural commodities start to stabilize? To find out, Cramer spoke with AGCO's chairman and CEO, Martin Richenhagen.

"The markets didn't help us. They were even more down than we were assuming, but we did our homework, we started early and we performed above… and we came through a little better we think for the remainder of the year because of our tax rate, we could manage down a little bit," Richenhagen said.

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

Habit Restaurants: "Habit is good, I prefer Jack in the Box and I thought Chipotle reported a remarkable quarter last week. I like those more."

Enbridge Inc: "Enbridge I think is very good. It's a very solid company and we need all the pipe we can get. That's been a big mistake by the people selling the pipe stocks. Those are where we absolutely need the infrastructure. I think it's okay, I really do."

Read MoreLightning Round: A huge mistake to sell this oil stock