Cramer's 'Mad Money' Recap: Next Week's Game Plan

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Jim Cramer told viewers of his "Mad Money" TV show Friday that his game plan for next week hinges on the Standard & Poor's proprietary oscillator.

Although he doesn't buy into most technical analysis, Cramer said the oscillator has proven to be a reliable gauge of the market over the past 20 years.

The oscillator indicates the amount of buying or selling pressure on stocks. When the oscillator hits +5, it's a sign to sell stocks, while -5 is the queue to buy.

According to Cramer, Friday's market rally was spurred by technical factors after the oscillator dipped to -6. Cramer said that's the signal to buy into the most beaten down sectors of this oversold market to take advantage of the upcoming snap back to normal levels.

These are some of the beaten-down banking stocks he would consider buying. They include: Wells Fargo (WFC Quote) and JP Morgan (JPM Quote).

He also would consider a short-term trade in some old technology names like Research In Motion (RIMM Quote), Salesforce.com (CRM Quote), Hewlett-Packard (HPQ Quote), Google (GOOG Quote) and IBM (IBM Quote).

In the "new-tech" space, Cramer still likes Ingersoll-Rand (IR Quote), Emerson (EMR Quote), Eaton (ETN Quote) and Parker Hannifin (PH Quote).

For a good defense play, Cramer recommended L-3 (LLL Quote).

In other sectors, Cramer said he likes Owens Corning (OC Quote) and would even consider Toll Brothers (TOL Quote) as a trade. And finally, in retail he'd consider picking up some Costco (COST Quote),

Cramer's Oversold Buy List