Cramer's 'Mad Money' Recap: Unassailable in a Selloff

"That is why people should be in a protected zone" and look for dividends and buybacks, he said. Cramer urged people not to panic, to keep a cool head and to be buyers. He said people should not buy all at once, not expect immediate gratification and be patient.

Otherwise, Cramer believes that three months from now, people who will have sold everything will wish they hadn't.

And Don't Buy ...

Cramer welcomed James Morgan, the president and CEO of Daktronics (DAKT Quote), to the show and asked him why people should buy the stock after the company's recent miss.

In terms of the quarter, though it was on target, the disappointment was related to the projection Daktronics gave for the coming quarter, Morgan clarified.

He added that the underlying drivers of the business are still intact and that Daktronics has "invested a lot of capacity to be able to respond to growth" that the company anticipates.

"One of the limiting factors is getting though the regulatory constraints that exist," Morgan continued. Although there is a very good revenue model with digital billboards, limiting constraints on how quickly the billboards can get deployed are a reality, he said.

Cramer said he is on the fence regarding the stock and put Daktronics in the "don't buy" camp for now.

To view Cramer's interview with James Morgan, please click here.