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Cramer Remix: My fave that's still MMM MMM good

Cramer Remix: One Cramer fave still mmm mmm good

Jim Cramer wants investors to realize that it is not the end of the world. And once they figure that out, the market tends to rally across the board, just as it did on Tuesday, even if no one knows what the Federal Reserve is going to say on Wednesday.

"At this point, I think the Fed better raise rates, or we will have to conclude that they know something very bad that we haven't heard about yet," the "Mad Money " host said.

If the Fed decides not to raise rates, Cramer thinks that could give the impression that they are being too complacent. Investors would worry that there is real trouble brewing somewhere, despite strong job growth.

But if there is a rate hike and the Fed confirms that it will wait a considerable amount of time before it tightens again, Cramer expects a continuation of Tuesday's rally.

However not everything was positive news on Tuesday when 3M, one of Cramer's favorite stocks, was crushed 6 percent on a slight guide down at an analyst meeting.

"My advice? Wait three days and then buy some 3M — that's what my charitable trust intends to do after selling a bunch of it at higher levels," Cramer said.

Read More Cramer: We will rally if the Fed says this

Gary Friedman, Restoration Hardware
Scott Mlyn | CNBC

While many investors are fretting over bad debts in the oil patch, Cramer is worried about something else. Why the heck aren't lower oil prices translating into consumer spending?

"I find it astonishing. Here we are, a principal cost cut in half, and it isn't translating," the "Mad Money " host said. (Tweet This)

Cramer keeps waiting for corporations to pick up the windfall from energy prices, but it just isn't happening. He could not name a single company that has received the benefit from lower crude costs.

"So, with the price of oil in the mid-$30s, we are stuck with the negative side of the ledger and no noticeable positives," Cramer said.

Read More Cramer: Most astonishing fact about low oil prices

Another stock that has been pummeled lately is Restoration Hardware, the luxury home furnishings chain with art-gallery styled stores. The stock was trading at all-time highs just six weeks ago but has since fallen.

This past quarter, the company talked about a promotional environment and delivered an excellent 7 percent comparable-store-sales growth. That would have been fabulous for any other retailer, but Cramer thinks Restoration Hardware was priced to perfection. As a result the stock is now just $4 above its 52-week low.

To learn more, Cramer spoke with Restoration Hardware Chairman and CEO Gary Friedman.

"When we step back and we think about the fourth quarter, the fourth quarter is a very important quarter… So, we are going to play to take market share; we are going to try to maximize our top line; we are going to try to optimize our earnings; and we like how we are playing the game, so far. It's a little different than how we played it before, but we are in a constantly changing environment," Friedman said.

With the holidays in full swing already, Cramer thought this would be a good time to focus on the best ways for investors to play the holidays in their portfolio. And, for anyone who has young children, that could involve a toy made by Mattel or Hasbro.

Maybe even both, for those who want to keep their kid in a good mood.

For the past few years, if anyone asked Cramer how to play the toy space, he would have said to buy Hasbro. It has the best licensing deals and movie associations, including many partnerships with Disney. Mattel was known as a much more old-school play, selling things like Barbie, Fisher Price toys and Matchbox cars.

But, lately, it seems that the two toy stocks have reversed trajectories dramatically, with Mattel roaring higher and Hasbro falling dramatically.

So can the trend continue?

To find out, Cramer turned to Tim Collins, a technician and colleague of Cramer's at When Collins consulted the charts for the future of these two toy companies, he discovered that the new pattern is poised to continue with Mattel leading the way.

Read More Cramer: The winner of holiday toy shopping is...

Another company that has a lot going for it is Seres Therapeutics, a small, development-stage biotech that skyrocketed when it game public in June and has since been very volatile.

Seres is all about creating a new class of medicines that treat diseases caused by dysbiosis — when the bacterial ecosystem that lives in your digestive tract becomes unbalanced, causing individuals to become very sick.

The company's lead drug is a pull that prevents recurrent CDO, an inflammation of the large intestine that is the leading cause of hospital acquired infections in the U.S. On Monday, investors learned that Seres' approach to treating diseases could have many more potential indications, including ulcerative colitis.

To learn more, Cramer spoke with the company's chairman and CEO, Dr. Roger Pomerantz. The CEO explained that many of the treatments currently available for conditions such as ulcerative colitis create suppression to the immune system, which could lead to infections or tumors.

"We have a drug, SER-287, that is in clinical trials that we announced yesterday in ulcerative colitis, which we expect to be totally non-immunosuppressant," Dr. Pomerantz said.

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

Wynn Resorts, Limited: "I love Steve Wynn [CEO] I love what he has built, but MGM has got that balance between Macau and Vegas that I need. So MGM is the play."

Nucor Corporation: "If I had to recommend a steel company it would be Nucor, it yields 3.73, but I'm not going to because the metals and mining remain a very weak place. Look at KMT and what happened when they preannounced. It was down almost $5 today on a $25 basis."

Read MoreLightning Round: I'm worried this group is peaking