Cramer's 'Mad Money' Recap: Foreign-Stock Policy

Big Feather for Capital One

Capital One Financial (COF Quote), which Cramer owns for his charitable trust, Action Alerts PLUS, is a triple buy, he told his viewers.

Even though the company offered earnings guidance that was worse-than-expected last Thursday, it turns out there was nothing to fear and the stock "reversed hard" on Friday, moving from $73 to $79, Cramer said.

The move, he explained, was because the guidance didn't matter in this case. Rather, it was the delinquencies that made the difference. While the shorts were betting heavily against Capital One for the long term and thought the credit card company would report a larger-than-expected increase in delinquencies, Capital One's delinquencies actually fell, Cramer said.

That's the reason for Friday's turnaround, he said.

Although Capital One may have reported low earnings estimates, by lowering its delinquencies it increased its multiple, he said.