Cramer: How to Trade Apple's iPhone 5 Event

As avid "Mad Money" viewers know, host Jim Cramer has long been a fan of Apple: the company, its products and its stock. It might not come as much of a surprise, then, that Cramer is eagerly anticipating the expected release of the iPhone 5 Wednesday.

Typically, shares of Apple climb going into new product introductions only to sell off shortly thereafter, Cramer said. Unless, of course, the announcement is a game changer. He can only guess about what kind of features Apple might add to its popular smartphone, though.

“A phone that has some sort of alternative power supply … that would send the stock flying. If it's just a better looking, slightly cooler phone, then get ready for a dive that allows you to buy into Apple if you never owned any,” Cramer said. “Remember, we don't trade Apple around here, we invest in it.”

(Read More: Buy Apple on Rumor, Sell on News?)

Meanwhile, the U.S. Department of Agriculture will release its crop report Wednesday and Cramer’s advice here is simple: “don’t out think it.”

“We have had some rain,” Cramer said. “It's likely that things aren't worse, meaning that more crops could be produced.”

Some investors have used this report to buy and sell agriculture-related stocks, Cramer said. He suggests using any weakness to buy shares of Monsanto or DuPont, but only if you can stomach some amount of risk.

Also, Germany’s Supreme Court will consider the legality of the country’s moves to save Europe amid the region’s debt crisis.

“Let’s hope the court understands that it could crush the world's economies if it says that Germany can't legally participate in the periphery bailouts,” Cramer said.

(Related: Nearly Half of Germans Don't Trust ECB's Mario Draghi)

When this story was published, Cramer's charitable trust owned Apple and DuPont.

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