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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday January 7.

My New Year's Resolution For Investing: Bed Bath & Beyond (BBBY). Other stocks mentioned: Melco Crown Entertainment (MPEL), Las Vegas Sands (LVS), Wynn Resorts (WYNN), Visa (V)

The New Year's resolution for investors is to stick with a stock if homework has been done and there is good reason for conviction. "Never sell a stock just because it goes lower," Cramer cautioned. Cramer discussed one mistake he made for his charitable trust. In the spring of 2012, Bed Bath & Beyond (BBBY) dropped a huge amount and looked cheap enough to buy. Previously, it sold at a rich multiple of 20 compared to its 10% growth rate. The street was worried that BBBY could not stand up to competition from Amazon (AMZN), but Cramer liked BBBY's regional to national story and didn't feel Amazon was a major threat. However, the street continued to punish Amazon and it kept falling further and further until it was lower than the level where Cramer's charitable trust had bought it. He decided to take the loss and sell it. After that, analysts changed their mind about BBBY and upgraded it, sending the stock from the low $50s to, eventually, the $70s. Cramer admitted that if he had stuck by BBBY when he knew the story was a good one, it would have been one of the greatest success stories of his charitable trust. The lesson: never let fear trump conviction.

Cramer took some calls:

Melco Crown Entertainment (MPEL), Las Vegas Sands (LVS), Wynn Resorts (WYNN): Casino stocks are strong. Cramer likes WYNN and LVS. MPEL may go higher, but in comparison, it is just okay.

Visa (V): Cramer would not sell Visa. The stock got hit after earnings, "That was stupid," Cramer said.

Good Rallies and Bad Rallies: Starbucks (SBUX), Whole Foods (WFM), Pharmacyclics (PCYC), Epizyme (EPZM), LinkedIn (LNKD), SPDR Gold Trust ETF (GLD), MasterCard (MA).

There are good rallies and bad rallies. Good rallies involve a broad selection of sectors leading the market. This was true recently, and Cramer noted growth stocks like Starbucks (SBUX) and Whole Foods (WFM) rebounded. LinkedIn (LNKD) was downgraded on worries about slower growth and tough comparisons, but the stock rallied. Pharmacyclics (PCYC) and Epizyme (EPZM) saw a dramatic move higher. Cramer thinks the fact the rally was led by a variety of sectors is a good sign.

Cramer took some calls:

SPDR Gold Trust ETF (GLD): Gold has been bad lately, but Cramer would still hold some gold exposure as "portfolio insurance." He would not buy more unless it declines more.

MasterCard (MA): Visa is a cheaper stock than MA.

Bank of America (BAC) Goes Higher

Cramer thinks 2014 will be a good year for the banks, and in particular, Bank of America (BAC), which is completing its litigation and has not risen as much as other banks. Technical analyst Tim Collins thinks BAC is headed higher based on its behavior in similar rallies. Collins sees a pattern of dips followed by huge buying, and believes that, short term, the stock could go 7.5% higher. Both Collins and Cramer would consider waiting for a pullback, but BAC might not give investors one, so it is fine to buy right here. The stock has risen 6% in only 3 sessions. The RSI indicator shows that these rises have volume. As far as the fundamentals, BAC has improved its balance sheet and interest rates are going BAC's way.

2 Things To Consider about Retail. Starbucks (SBUX), Amazon (AMZN).

Starbucks' (SBUX) CEO Charles Schultz identified 2 new trends he is seeing affecting retail. First, in-store traffic is giving way to online sales. Since Starbucks serves coffee and tea, it might not impact it as much as other retailers. Another trend Schultz identified is the increasing use of gift cards rather than buying regular products as presents. Starbucks, which issues many gift cards, will benefit from this. Amazon is still a buy, even though it is a "hot" stock, because the transition from the store to online shopping will gain momentum.

CEO Interview: John McConnell, Worthington Industries (WOR)

Worthington Industries (WOR) is in the steel processing space, but is becoming increasingly diversified, with exposure to autos, cylinders and, through a recent acquisition, making parts for equipment used to liquefy natural gas. CEO John McConnell said he is not concerned that aluminum will replace steel in autos; "They can't take over from a pricing standpoint ... cars would become so expensive no one would be able to afford them." Cramer likes WOR's turnaround, and thinks WOR "is the best steel stock in the world."

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Source: Cramer's Mad Money - My New Year's Resolution For Investing (1/7/14)