Then, with the CBOE Volatility Index, the stock market's fear gauge, dipping to its lowest levels in over 10 years, Cramer had to figure out why worries are so low and whether it is a red flag.
First, the "Mad Money" host noted that the index, known as the VIX, is not a perfect measure of overall fear in the market. It is based on put and call options on the S&P 500, but excludes the various other ways to bet against the market that have emerged since it was created.
Still, the VIX is not obsolete, and after going through the six obvious reasons why fear may be dwindling, Cramer found one that investors may not be seeing.
After all, the VIX does not measure how many and how much hedge funds are betting against the market and individual stocks. And not many big-league money managers are thrilled about the current state of the stock market, Cramer said.
"I think that if we had an actual poll of hedge funds we'd find overwhelming negativity ... about this market because it's too high, the valuation's too expensive, it needs to come down," he said. "The hedge fund VIX is probably off the charts after this run."
Finally, Cramer sat down with XPO Logistics Chairman and CEO Brad Jacobs, who said that his transportation and logistics services is burgeoning thanks to the habits of people who shop online.
"We're big in e-commerce," he told Cramer on Tuesday. "About 26 percent of our business is either retail or, more importantly, e-tail, e-commerce. The e-commerce customers buy 10 things and they return a handful of them. So we do the reverse logistics. It's a big and growing business."
Jacobs also said that while XPO's first quarter earnings report beat the Street's estimates, it is more helpful to look at the business in two categories: transportation and contract logistics.
"Transportation is kind of sluggish, actually. There's a lot of capacity. We have to work hard to get the results we're getting. Supply chain business is coming to us. There's just a lot of e-commerce business coming to us," Jacobs said.
In Cramer's lightning round, he flew through his take on some caller favorite stocks, including:
Western Digital: "OK, we took a little off the table for the club because we had a gain. Letting the rest run. Why? Because I genuinely believe that it still will be part of this Toshiba mix, and that's how you're going to get the next leg. But I think selling some is good because no one ever got hurt taking a profit. Let the rest run."
Washington Prime Group: "Man, that thing acts so bad. Shopping centers, you know what, it's a no-go. It's just a no-go. I'm not going there. I'm just not."
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