Cramer's 'Mad Money' Recap: Rumor Mill Grinds to Halt

"When I hear about quality stocks being rumored down, I know we're near the end of a bear raid," he said. "These three stocks have bottomed."

There are a lot of reasons the financials hit a bottom today, Cramer continued. Sure, the market was due for recovery, but the shorts got "too cocky and took the rumors too far," he said. Cramer's advice for people who bought into the rumors and turned into "bait for the shorts" was to see a decline as a big sale next time.

The financials are putting in a bottom right now, he said, urging people not to let recklessness disguised as caution and prudence keep them out of a rally like today's in the future.

Rubble, Rubble

Cramer recommended that viewers pick among the rubble now and find stocks that are still intact. These are companies that just reported great quarters before the selloff and got taken down for no real reason, he said.

In a special segment that will run for the rest of the week, Cramer will offer one "rubble" stock that investors should consider buying.

Today Cramer pulled General Cable (BGC Quote) out of the rubble heap and said that even though it just moved up a lot, the stock still represents a good deal.

Although General Cable is, without a doubt, one of the most boring companies out there, Cramer said that it reported a "phenomenal" quarter about a month ago and gave good guidance.

"Even with today's bounce, it's pulled back enough to be a triple buy," he said. But to be on the cautious side, Cramer advised market players to buy some General Cable now and wait for weakness to put more of a position on later.