Cramer's 'Mad Money' Recap: Reasons to Worry

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Google (GOOG) was next on the list. Cramer said this company was crushed after it reported in October as it struggles to migrate from desktop to mobile advertising. He said he likes Google a little less than he did before.

As for Visa (V) and MasterCard (MA) , both stocks have had slight gains since October. Cramer said these companies are plays on the worldwide switch from paying with paper to plastic and he still likes them both.

Finally, there's Sherwin-Williams (SHW) , a stock that sold off after a good quarter in October but also one that rebounded after Hurricane Sandy provided a huge number of homes and businesses that will need repainting.

More Stocks for Review

Continuing with his growth stock review, Cramer looked at five more stocks he recommended in October.

Cramer said Ulta Salon (ULTA) took a big hit when its CFO resigned in October, but since then has delivered an 8.8% pop in same store sales. The company is still growing like a weed and Cramer said he's still a fan.

Then there's Tractor Supply (TSCO) , a stock that fell from $98 to $89 a share. Cramer said he blew this one as expectations had gotten too high and even a beat-and-raise quarter was not enough to take the stock higher. He said it makes a lot more sense to own Tractor Supply at these lower levels, but Home Depot (HD) is probably a better bet.

In the biotech space, Cramer said he still likes Gilead Sciences (GILD) , which popped 8.8% since his recommendation, and Alexion Pharmaceuticals (ALXN) , which has fallen 14%. He said the stories at both companies are still intact and he's sticking with both, even with Alexion down big.

Finally, there's Diageo (DEO) , another Cramer favorite. Shares have risen 14% since October and Cramer said this company continues to deliver for shareholders.

Lightning Round

In the Lightning Round, Cramer was bullish on Dominion Resources (D) , Duke Energy (DUK) , Apple (AAPL) , Linn Energy (LINE) , LinnCo (LNCO) and SandRidge Mississippian Trust (SDT) .

Cramer was bearish on Alltel (AT) , Antares Pharma (ATRS) , American Eagle Outfitters (AEO) , Knight Capital Group (KCG) and Frontier Communications (FTR) .

Hit the DECK

Speaking of circling back to old ideas, Cramer also took a new look at Deckers Outdoor (DECK) , makers of Uggs boots and Teva sandals. Deckers has been one of Cramer's favorite footwear plays, but the stock imploded in 2012 -- falling from a high of $117 a share down to just $28 a share as investors feared that the Uggs fad had run its course.

Deckers did not help its situation by slashing guidance as its sales slowed at the same time its prices for materials like sheepskin were on the rise. The trends, said Cramer, were horrid, which explains why nearly 46% of Deckers' shares are still sold short.