Cramer's 'Mad Money' Recap: Charter Course

While other companies sat on the sidelines, Harsco found a way to beat Chinese competitors by turning its focus to being more service-oriented, Cramer said. The company, he said, went into mill services and access services.

Plus, Harsco has "beautiful global exposure," Cramer went on to say. Now it is "beating the Chinese and everyone else as well." He said he likes outsourcing companies and companies with international exposure -- Harsco is both. It has reinvented itself and is a buy, Cramer said.

Annaly Acumen

Michael Farrell, the chairman and CEO of Annaly Capital Management (NLY Quote), joined Cramer on his show and explained how his company wasn't burned by the subprime lending crisis.

"Thirty years of being a mortgage trader tells you a lot of things about cash flows from consumers, and that's what you look at when you look at our stock," Farrell said. "I don't pretend to have a crystal ball, and I think there's always bull markets and bear markets starting at all times ... but the bottom line is that it was unsustainable."

The subprime crisis has to "play out," and it isn't even in the third inning yet, the chief executive said.

Further, Farrell said he believes it's "too early to collect all the pieces that are broken."

"The flight to quality that's going to happen with triple-A assets is still there," he said. "The mortgage market is going to provide a place of safety or place of danger, depending on which asset class you pick."

Cramer called both Annaly and Farrell "winners."

To view Cramer's interview with Michael Farrell, please click here.

Lightning Round

Cramer was bullish on Celgene (CELG Quote), Nastech Pharmaceutical (NSTK Quote), Incyte (INCY Quote), Corning (GLW Quote), W.R. Grace (GRA Quote), Level 3 Communications (LVLT Quote), Rite Aid (RAD Quote), Manulife Financial (MFC Quote), MetLife (MET Quote), Prudential Financial (PRU Quote), Companhia Vale do Rio Doce (RIO Quote), Halliburton (HAL Quote) and Six Flags (SIX Quote).

Cramer was bearish on ViroPharma (VPHM Quote), Opnext (OPXT Quote), Quiksilver (ZQK Quote), Best Buy (BBY Quote) and Taiwan Semiconductor (TSM Quote).

There Goes Swifty

During his "Sudden Death" round, Cramer was bullish on Cummins (CMI Quote). He was bearish on Paccar (PCAR Quote), Heelys (HLYS Quote) and HFF (HF Quote).

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

For more of Cramer's insights during the Lightning Round, click here.