There's also El Paso(EP Quote), one of Cramer's favorites.

EP has not kept pace of late, he said. "Take advantage of the fact it is hanging around $21 and pull the trigger," said Cramer. "It is one of the most undervalued in the group. I say buy, buy, buy."

Next week is a short trading week and the market needs to catch its breath, said Cramer. "The declines have been brutal, swift and nightmarish except for a handful of companies," he said.

Speculation Friday

Cramer brought up a stock that went public last week but has since gone lower. Britannia Bulk Holdings(DWT Quote) is a dry bulk shipping company that has pulled back hard. "I didn't recommend the IPO because $15 a share was too high," he said.

Britannia Bulk operates 13 bulks ships, five ocean barges and four tug boats. When the Baltic freezes, most ships can't travel through it, but Britannia has several ships than can cut through the icy waters. The company's ships are used to transport coal, agricultural commodities and fertilizers.

Britannica Bulk's IPO was negatively affected by a quick downturn in the Baltic Dry Index, after the Chinese government ordered a reduction in ore stockpiles.

Britannia Bulk was a "real loser" for anyone participating in the IPO but it will be a winner for Cramerica if an investor moves in to buy the stock at $12.80, where it closed Friday.

Cramer said the Chinese action was "temporary," noting the Baltic Dry Index should head back up when supply and demand return to normal.

Another reason why the stock is attractive is its 8.8% dividend. "We like these bulk dry shippers for their dividend yields," he said.

Because Britannia Bulk is a small company, Cramer cautioned it is important to buy the shares in increments and use limit orders. "Don't buy this stock recklessly," he said.

"If you pay over $13 a share, you are not getting a good deal," he said. "At $13.50 you are positively getting ripped off. Remember, higher the price, the lower the yield."

Britannia has six more ice class bulk ships on order, which will help it make more money and send the share price higher.

"Wait for pullbacks before you buy," said Cramer. "You will get plenty of chances to buy because the Baltic Dry Index is volatile."

Cramer also asked listeners to pass on Navios Maritime(NM Quote). "It doesn't have great growth on yield," he said. "Our oil guy is Nordic American Tanker(NAT Quote) and our dry bulk play is Britannia Bulk," he said.

A Play on Support Ships

All week, Cramer has urged Congress to lift the moratorium on offshore drilling.

Friday's pick in cleaner off shore drilling technology is Hornbeck Offshore Services(HOS Quote).

Hornbeck makes offshore support vessels (OSVs) that are the lifeblood of offshore drilling. OSVs enable rigs to remain upright during extreme weather so they don't float away and jeopardize operations. As more rigs move offshore, they become more isolated and OSVs help in bringing supplies and removing waste. They are equipped with firefighting equipment and help with repairing rigs.

There's a shortage of OSVs right now and there's a need to update these vessels. With the second largest fleet off the Gulf of Mexico, Hornbeck is in a position to command better rates for their OSVs.

The company has sent some of their newest OSVs to Brazil and is involved in a lot of decommissioning projects in Gulf of Mexico. Hornbeck could also sell its tugboat and barge business and use the proceeds to buy more OSVs, said Cramer.

The stock sells at 11.2 times its earnings. It is a small company with only 20 million shares traded. Cramer said investors should use limit orders when buying and wait for a pull back before you pull the trigger.

Motoring with Baldor

Cramer gave his stamp of approval to Baldor Electric(BEZ Quote), which makes a large variety of industrial motors ranging from those used in medical equipment, semiconductor manufacturing to those in mining and oil and gas machines.

"Anywhere there is movement, there's a motor," John McFarland, chairman and CEO of Baldor told Cramer. "We don't make any motors that you find in your home or in your car."

No residential and no auto markets is something I like, said Cramer.

Baldor's stock has dropped 3% since June 17, making it attractive play on the pull back.

Over the last 18 months, Baldor has doubled its sales, doubled its profit, paid off $235 million in debt and increased its global footprint.

"We have done a very good job of transforming the company," said McFarland. "Our business is solid and we are quite pleased with how we are doing in Europe, Asia and North America."

Cramer agrees. Stick with Baldor, he said.

Lightning Round

Cramer was bullish on Alliance Resource Partners(ARLP Quote), Phillip Morris(PM Quote), CRBL(CBRL Quote), and Grupo Simec(SIM Quote).

He was bearish on Oshkosh(OSK Quote) and China Finance Online(JRJC Quote).

Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

For more of Cramer's insights during the Lightning Round, click here.