When Cramer reflected on recent activity in the stock market, it wasn't just bad stocks that made him so nauseated. It was the bad stocks trading as if there is no price that makes them worth owning.
Cramer was shocked at how many stocks seem to be in a similar position to Encana, Genworth and United States Steel Corp (US Steel).
"Stocks that, if you didn't know any better, can't make it in their current forms and will have to reorganize in some fashion," the "Mad Money" host said.
"The problem with these slippery slope single-digit names is that we cannot figure out if the stocks have fallen too much because of an overabundance of fear, of if the declines are saying 'don't you dare touch me, these are going to zero,' " Cramer said.
The scariest part of the market is that the danger is not just limited to these three companies. Cramer saw similar situations all over the place; in some ways, they are emblematic of the moment. The same issues can be found with bottom fishing the oil patch, and the entire steel group.
Read MoreCramer: Troubled companies that must reorganize
In such an uncertain environment, Cramer has gained an appreciation for companies that can produce consistent performance. One of those companies is Henry Schein, the world's No. 1 distributor of products and services to both dentists and veterinarians, as well as a major supplier of vaccines.
And no matter what happens with the economy, people will still go to the dentist and take their animals to the vet. Henry Schein has also made a series of small acquisitions to strengthen its presence in these markets.
To learn more, Cramer spoke with Henry Schein's chairman and CEO, Stanley Bergman.
"The opportunities in dental, in the medical, the physician practice area and the veterinary world are just phenomenal. There is just lots and lots of opportunity," Bergman said.
In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:
Pandora: "They got that favorable copyright decision and the stock spiked, so therefore that decision was money in the bank and I think it is OK to buy now.
GW Pharmaceuticals: "There is a lot of controversy now about whether this drug is going to be used in many different instances, and whether or not it has run its course. The speculative biotechs I don't like. I like Celgene, I like Regeneron and I like Biogen for my charitable trust."
Read MoreLightning Round: It was money in the bank