Coca-Cola is the classic steady stock that tends to work, even when the economic environment is uncertain. Cramer spoke with Larry Williams to take a closer look at the stock and determine what the charts predict for the future.
Williams is a technician who has traded futures, commodities and stocks for more than 50 years. He has written 11 books, and created various technical indicators used on Wall Street and teaches people to become better traders at IReallyTrade.com.
"If you believe that the Trump rally has truly gotten off track, than Coca-Cola is exactly the kind of stock you should be buying," Cramer said.
For those that think the sell-off is simply a pause, Cramer advised to only own Coke for the purpose of diversification and additional income from its 3.36 percent yield.
Ever since the election, the market has been in anticipation that President Trump's policies will be a major boost to the economy. However, Cramer noted that many cyclical industrial companies were already in great shape, and the American heavy industry could be doing better than many think.
"That may not be true across the board, but I have got to tell you, after some of the numbers we have seen this earnings season, it is certainly true in some individual cases," Cramer said.
Illinois Tool Works is the maker of specialized industrial equipment, and when Cramer called the company the "greatest industrial company you have never heard of" last April, it turned out that every single pullback was a buying opportunity for the stock.
And the good news is that he thinks the stock has more room to run, and he said it's not too late to buy it. Cramer believes its hungry management team will consistently improve and take share for years to come.
"It is the ideal stock to buy when the market loses faith in the Trump agenda, but you still want to own an industrial that can put some big points on the board," Cramer said.
In the Lightning Round, Cramer gave his take on various stocks from callers:
Teck Resources: "If you think that worldwide growth is going to continue, then this remarkable stock is going to keep going higher. I happen to prefer Freeport at this time, FCX, but Teck, if you think the world goes higher — Teck goes higher with it."
Molina Healthcare: "Let's understand each other that I am only recommending one in that group, and that stock is UnitedHealth, UNH, which I think will go up 10 points while Molina meanders."