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Cramer Remix: Retail ahead of the holidays

Jim Cramer is starting to see the same pattern play out in the market lately, and he wants investors to be ready for a big change when employment numbers are reported on Friday.

With each company that reports disappointing earnings, stocks still manage to rally. It seems investors recognize they were bad, but not so bad that it causes a panic into selling.

"That's been the theme of this entire earnings season, and it explains a lot of the moves we have been seeing lately," the "Mad Money" host said. (Tweet this)

While Cramer recognizes that some of the rallies are due to portfolio managers underweighting the industrials, there is also something else at work here. Investors have noticed that the Chinese consumer is getting stronger, Europe is turning and the U.S. has a strong market in housing and autos.

That means these down-and-out stocks are now attractive. The big question remains — how long can it last?

Cramer thinks this can continue right into Friday's employment number, and then some of the groups will pause. A few of the stocks that Cramer will be watching are J.C. Penney, which has strong management that Cramer likes, though he prefers to stick with Macy's.

If there is a strong number, then the Fed will likely move in December, which will send bank stocks higher and prompt other groups to stall. A weak number could trigger a need for safety, and these new ugly-duckling stocks could be sold off.

Read MoreCramer: Be ready for a big move on Friday

Traders work on the floor of the New York Stock Exchange.
Getty Images
Traders work on the floor of the New York Stock Exchange.

Another group of stocks on Cramer's radar recently are the real estate investment trusts. This group has been thrown back and forth like a football, going down every time investors become worried about the Fed raising rates.

"It's true that the REITs are high-yielding stocks that often trade like bond market equivalents, but I think it's crazy to think about this entire sector as nothing more than a hostage to interest rates," Cramer said.

EPR Properties is a diversified real estate investment trust that owns entertainment, recreation and education related properties. This includes megaplex movie theaters, retail centers, ski parks and charter schools.

The company reported a better-than-expected quarter last year, yet the stock has barely budged. Is the stock being overlooked because of fears of the Fed taking action?

To learn more, Cramer spoke with EPR Properties CEO Greg Silvers.

"We still have a very repeatable model that allows us to access our product, grow the company, even in a rising interest rate environment and deliver a safe, stable, reliable dividend that we pay monthly," Silvers said.

Fitbit took a major beating on Tuesday, down almost 9 percent. However, unlike many investors, Jim Cramer refuses to jump ship.

"Put simply, Fitbit is not down because of anything the company said about the business, which is healthy and growing," the "Mad Money" host said.

Rather than focus on Fitbit's stellar earnings beat, investors sold the stock with the news of a secondary offering that would put an additional 14 million shares from insiders and 7 million from the company itself into the market. Cramer thinks this could help to reduce the large number of short sellers that have existed in the stock since it came public in June.

"Even if you believe that Fitbit is a fad, I think it hasn't come anywhere near peaking, especially given its rapid adoption overseas," Cramer added. (Tweet this)

That means, when Fitbit bottoms from the insider selling, it could be the perfect thing to buy in the holiday season. Cramer advised to ride the stock, whether it is for an investment or trade, because it is the real deal.

Read MoreCramer: This stock is not even close to its peak

Last earnings season, Disney reported a less than perfect quarter, which triggered a downward spiral for the entire media complex in the blink of an eye. Since the bottom in August, Cramer saw many of the media stocks bounce back and continue to roar higher.

So, with Disney reporting again on Thursday, Cramer thought it would be worth circling back to the group to see if it can stay on fire going forward. That is why Cramer turned to Bob Lang, a technician and founder of ExplosiveOptions.net and colleague of Cramer's atRealMoney.com.

In short, Lang's view is that the media plays are red hot right now with beautiful charts. He thinks some of the stronger names are ready to roar even higher.

Ultimately, the charts suggested to Lang that media stocks are on fire right now, particularly Netflix, Disney and his favorite, CBS.

Read More Cramer: Media stocks ready to explode higher

After spending more than a year in the doghouse, Jim Cramer is starting to wonder when Zillow Group will finally get its groove back.

Zillow Group is best known as the online real estate company that is the biggest Web-based repository of home values and home listings. The stock has been on the rebound for the past few months, thanks in part to the company's acquisition of Trulia, its closest competitor.

The company reported after the close on Tuesday, and delivered adjusted earnings per share of 7 cents, when Wall Street was expecting a 3-cent loss and slightly higher revenues. However, the company did guide estimates lower than expected, which weighed heavily on the stock in after-hours trading.

Cramer spoke with Zillow Group CEO Spencer Rascoff, who commented on the company's revenue growth in 2016, now that the deal with Trulia is in the rearview mirror.

"For me, the exciting part of the quarter is that this integration, the transition is behind us now. We are turning this chapter. Everything has been integrated now, and we are ready to accelerate revenue growth going into 2016," Rascoff said.

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

Best Buy: "I'm going to tell you that I prefer GameStop to Best Buy. I think that is a much better situation."

Bristol-Myers Squibb: "Bristol-Myers is absolutely terrific! We know that. My charitable trust is trying to figure out how many drug stocks you can own going into what could be a weaker fourth quarter for industrials. But right now, we've just got a couple."

Read MoreLightning Round: Don't bother rolling the dice on this