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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday March 20.

CEO Interview: Joseph Carrabba, Cliffs Natural Resources (NYSE:CLF)

Amid worries over Chinese growth, Cliffs Natural Resources (CLF) raised its dividend by 123% to 3.5%. This can be seen as a move of confidence, in addition to the fact that the company did not alter its own growth outlook. CLF has a proven track record as the second strongest performer in the S&P 500, and has risen 3,000% in the last decade. The stock may be a buy on its recent pullback.

CEO Joseph Carrabba explained that even if growth in China slows, a moderate, single-digit growth is still enough to keep business healthy, and the company is diversified into different regions in the world, like Canada. However, the march toward urbanization in China is not likely to slow dramatically, and CLF can expect to benefit from this trend. CLF has significant assets and a solid pipeline of growth. Cramer is bullish on CLF.

Caterpillar (NYSE:CAT), BHP Billiton (NYSE:BHP), Nucor (NYSE:NUE), Cummins (NYSE:CMI), Peabody (NYSE:BTU), Joy Global (NYSE:JOY) Panera (NASDAQ:PNRA), Darden (NYSE:DRI), Lowe's (NYSE:LOW), Home Depot (NYSE:HD), Ross Stores (NASDAQ:ROST), Amazon (NASDAQ:AMZN), Michael Kors (NYSE:KORS), DSW (NYSE:DSW)

While conventional wisdom may say that the market has been levered to China, it seems that there is a dichotomy between the performance of China-related stocks and those with a stronger connection to the U.S. economy. On news that China might be slowing economically, BHP Billiton (BHP), JoyGlobal (JOY), Peabody (BTU), Cummins (CMI), Nucor (NUE) and Caterpillar (CAT) dropped. However, stocks with mainly domestic exposure, like Panera (PNRA), Darden (DRI), Lowe's (LOW), Home Depot (HD) Ross Stores (ROST) and Amazon (AMZN) performed well. Investors should not allow one piece of negative macro news to make them shun stocks as a class, since not all stocks are trading together on the same news.

Cramer took some calls:

Michael Kors (KORS) has the highest growth in the sector and is growing quickly. Cramer would use any decline to buy into the stock.

DSW (DSW) is on a monster move upward.

Charting the Volatility Index

With the Volatility Index under $15, below its historic high of $20, can investors assume that volatility and fear have been put to rest? Looking at the VIX index through several periods, it seems that years during which the VIX was high, for instance during 1998-2003, which saw the bursting of the tech bubble and 9/11, were followed by several years of the VIX sitting at or below $15, as during the steady growth period between 2003-2008. After the recession and woes in Europe, it is reasonable to expect that we are settling into a more stable period for the VIX, and investor confidence could continue to rise.

Disney (NYSE:DIS), Lions Gate Entertainment (NYSE:LGF)

On the spectacular failure of "John Carter," some investors are worried about Lions Gate's (LGF) blockbuster, "Hunger Games." Even the "John Carter" fiasco might not likely eat into Disney's (DIS) bottom line too much, because the company is diversified away from just movies, if "Hunger Games" is a flop, that could spell disaster for LGF, and the opposite if it is a success. LGF's stock has risen 34% since Cramer got behind it in February, and he would hold onto it into the weekend of the "Hunger Games" premiere. He might take profits on Monday, depending on how the film is received.

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Source: Cramer's Mad Money - Why China Is Not Hurting Cliffs Natural Resources (3/20/12)