Cramer's 'Mad Money' Recap: Broker Bargain Bin

Two IPO Don'ts

There is a distinct line between good and bad initial public offerings, Cramer told his viewers.

Taking a cautionary stance, he said there are two upcoming IPOs he would not buy, or even go near, unless the bankers who priced them cut the prices.

The two names people should avoid are Aruba Networks, which will trade under the symbol ARUN, and Glu Mobile, which is slated to trade under GLUU, Cramer said. Cramer said he wouldn't buy either one even at the lower end of their price ranges.

Aruba is not a bad business, but its two biggest competitors are the "heavy hitters" Motorola (MOT Quote) and Cisco (CSCO Quote), he said. And another problem is that Aruba sells its products through vendors, its biggest one being Alcatel-Lucent (ALU Quote), a bear in Cramer's book.

Glu Mobile, which makes mobile games for cell phones and PDAs, has a current pricing range of $10 to $12 a share, which Cramer considers "best-of-breed" prices. If it were below $8 a share, he said, he might consider recommending it, but definitely not up here.