Cramer's 'Mad Money' Recap: Four Spec Names to Play

Three Specs Around the Cisco

If market players want a "steady, dependable" play for the telco and cable build out, Cisco (CSCO Quote) is the stock to buy, Cramer told viewers.

At the same time, taking Cisco's "great" quarter as a cue, he believes it's time to get back into the speculative plays in the telco sector. While the little telco companies are "notoriously unreliable," they can be "unbelievable" when business is good, Cramer said.

Optium (OPTM Quote) and Finisar (FNSR Quote) should be the biggest beneficiaries of Cisco's quarter, he said.

Opnext, which will trade under the symbol OPXT after it comes public next week, is another stock Cramer believes is levered to Cisco's performance and people should buy. However, he warned viewers to be "especially careful" and not to pay more than $16 to $17 for Opnext, "unless there's too much enthusiasm."

"If you can get in on the IPO, chances are very good that you'll make money off the initial pop," he said. "That would be the real opportunity."

Cramer warned viewers that these stocks will likely burn out fast. "They are not Cisco, and if you hold them too long they will break your heart," he said.

Cramer advised market players to sell the stocks when they're up, even if they look like they might be going higher. Otherwise, people will be putting themselves "in danger of losing money," he said.

Next Week's Game Plan

Cramer said he doesn't care for the market right now, as gold keeps rising and financials are not doing well. Plus, next week is options expiration week, which always makes things even more dicey, he said.

Therefore, people should take some profits, he said. "If you're tempted to pull the trigger, buy less," about half of what you would normally buy, Cramer advised. And he told people not to be surprised if a stock goes down even after reporting a good quarter.

This week, Prudential (PRU Quote) reported a really good quarter, and Aon (AOC Quote) talked about how good the insurance business was.

But MetLife (MET Quote), which reports next Tuesday, is the big sleeper stock of next week, Cramer said. He advised people to buy it before and after it reports earnings, regardless of whether or not it gets hit, since it's best of breed and has a "tremendous" growth rate.

Cramer warned viewers of the possibility that MetLife's stock might do nothing after the insurer reports, because the market is so awful. But he said people should not panic and should buy more later in the week.