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“I never shirk from admitting my mistakes; instead, I dwell on them to learn from them. I change my mind, I take losses, I own up to them,” Cramer has said.

Here we track some of his calls from the previous episode of “Mad Money” and find out, at least in the very short term, how the stocks are performing. Keep in mind that Cramer might not have been recommending that viewers take immediate action on a stock. And, of course, it’s up to the individual investor to do his or her own homework.

That said, here’s how some of the stocks that Cramer talked about on Tuesday’s “Mad Money” show fared today.

Home Depot(HD): According to Cramer, the economy is turning around. He said the turn might not be immediately apparent to everyone, but the clues are there. For example, stocks such as Home Depot, and Action Alerts PLUS stock, Sherwin-Williams(SHW) and Masco(MAS) are signaling a turn in the housing industry, and Cramer predicted a housing shortage in 2011.

On Wednesday, Home Depot added 64 cents, or 1.9%, to close at $34.98; Sherwin-Williams closed up 46 cents, or 0.6%, at $72.79; and Masco gained 74 cents, or 4.6%, to $16.88.

>> Who Owns Home Depot?: Dodge & Cox

Family Dollar(FDO): Cramer spoke with Family Dollar CEO and Chairman Howard Levine, who said it isn’t true that discount stores are destined for poor performance in economic recoveries. In fact, he said, Family Dollar historically has performed well coming out of a recession. Levine spoke to Family Dollar’s California expansion plans and private-label growth.

Cramer had previously recommended the stock on Nov. 6, 2009, and shares have added more than 30% since. On Tuesday, Cramer said the stock had more room to rise and again called it a buy.

On Wednesday, Family Dollar closed up 5 cents, or 0.1%, at $38.97.

>> Who Owns Family Dollar?: Maverick Capital

Hot Topic(HOTT): Cramer said that Hot Topic’s recent dividend declaration is a sure sign of strength and indicates that the retailer’s fortunes are improving. He pointed to its transition away from trendier merchandise and return to its core brands, as well as the performance of its plus-size stores. The stock’s time has come, said Cramer.

 

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