Cramer's 'Mad Money' Recap: Be Ready for the Turn

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Confusing to say the least. But under the new plan, the card is free and smaller discounts can be received everyday, similar to grocery store rewards programs customers are already familiar with.

But for some investors, this new program is cause for concern, as it will provide customers with too many discounts and cause a hit to GNC's gross margins. They also cautioned that GNC only delivered a 9% rise in same store sales vs. the 12% that some analysts were expecting.

Cramer said all of these fears are misguided, as GNC has seen nothing but positive results with its new program and while there may be an initial hit to margins up front, the long-term success of the new loyalty program will bring higher sales.

That's why he sees GNC as a buy, buy, buy now that shares have fallen $4 from where the company reported its stellar results.

Celebrating CVS Caremark

The next party guest for Cramer's "upside surprise party" was CVS Caremark (CVS) , another company that delivered a triple-play of earnings including a penny-a-share earnings beat, a 12% rise in revenue and upside guidance. Shares of CVS are now down 8% from their highs.

Cramer said the naysayers have a host of reasons not to like CVS, not the least of which is the fiscal cliff. But are consumers really likely to forego medications and toothpaste in the event their taxes go up? Cramer thinks not.

Some investors are also equating weakness at rival Walgreens (WAG) with weakness at CVS, but that's just not true, said Cramer, as CVS is clearly taking share from Walgreens and others.

Cramer acknowledged that the dispute between Walgreens and ExpressScripts (ESRX) was a big win for CVS earlier in the year; now that the dispute has ended, CVS will lose some of those prescriptions, but that negative news has already been priced into the stock.

With shares of CVS now trading at just 12 times earnings and the company having a 13.2% growth rate, Cramer said this is one stock that's simply too cheap to ignore.

The company also has an analyst day coming in December which should help boost shares with the analyst community. Cramer said he'd be a buyer of CVS on any weakness.

Lightning Round

In the Lightning Round, Cramer was bearish on Magnum Hunter Resources (MHR) , SandRidge Energy (SD) , Arena Pharmaceuticals (ARNA) , AK Steel Holding (AKS) and BorgWarner (BWA) .

Am I Diversified?

In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent to @JimCramer to see if investors' portfolios have what it takes for today's markets. The first portfolio included: Amazon.com (AMZN) , Apple (AAPL) , Walt Disney (DIS) , National Oilwell Varco (NOV) and TeraData (TDC) .