"Mad Money:" Jim Cramer Bullish On Gold, Foreign Stocks

In his "Mad Money" TV show, Jim Cramer warned investors to be cautious ahead of the upcoming vote. Cramer said that big money managers have varied opinions on the passing of healthcare reforms and the markets’ reaction to it. However, Cramer believes that healthcare reforms will pass in the Congress, making it tougher for bullish sentiments to prevail in the market. He disclosed that he has been scaling back his positions in his Action Alerts PLUS charitable trust as an anticipatory defensive move. He thinks that investors must quickly scale back their position in stocks that do not offer dividend and those that have had a big run.

Although Jim remains bullish on gold and foreign stocks, he believes that bulls will be difficult to find going forward.

After talking with the chairman and CEO of Medicis Pharmaceuticals (NYSE: MRX), Jonah Shacknai, in the "Executive Decision" segment, Jim said that he continues to recommend the stock as he has always found investing in MRX profitable. At the end of his interview with the chairman and CEO of Devon Energy (NYSE: DVN), Larry Nichols, Cramer said that he continues to prefer the stock, despite a 587% run up in the shares over the past 15 years.

Cramer expressed his frustration regarding the secret bailout of certain homebuilders, such as Hovnanian (NYSE: HOV), KB Homes (NYSE: KBH) and Pulte Homes (NYSE: PHM), that adversely impacted the housing market and led to an increase in foreclosures. He said that as home prices are struggling to recover, these homebuilders now have the freedom to build more homes, keeping prices depressed.

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