Cramer's 'Mad Money' Recap: Fed Stranglehold

Best of B Breed

The third 'B' pick Cramer said he likes is Baxter International (BAX), which unlike Boston Scientific (BSX) is best of breed. However, he said he wouldn't buy Baxter until it pulls back a bit.

Though Baxter has outperformed Boston Scientific as well as Becton Dickinson and CR Bard, that is not what makes it best of breed, Cramer explained. Instead, a lot of what distinguishes Baxter is the diversity of its products, he said.

Its broad range of products and services makes it less speculative and more reliable than BSX. Also, Cramer said he didn't like Boston Scientific's recent quarter "one bit." He understands that people might be attracted to Boston Scientific because it's cheaper, but they should understand that it's cheaper for a good reason, Cramer said.

Moreover, if Becton Dickinson and CR Bard are the Brahms and Bach of medical devices, then Baxter is the Beethoven, Cramer said. "These three should work into the downturn that I am foreseeing right now."

Mad Mail

In his "Mad Mail" segment, Cramer told a viewer that he bought NYSE Euronext (NYX) for his Action Alerts PLUS charitable trust when it was at $84 because he wasn't able to get into it earlier.

"I feel strongly that this is the future" and that NYX is levered more to Europe than the U.S., he said. "I am sticking with it, and I think it is going to be a great, great stock for the next few years."