Cramer's 'Mad Money' Recap: Sweet on Honeywell, H-P

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This week Jim Cramer is deconstructing the Dow Jones Industrial Average, he told viewers of his "Mad Money" TV show Wednesday.

At the beginning of the year, Cramer said the Dow would close at 14,548 by the end of 2007, and now Cramer's dedicating a segment of the show every day this week to analyzing the 30 stocks in the index.

He's going through every stock in the Dow and not shying away from any mea culpas, so people will know what to buy. And as the past tells us, Cramer's annual predictions for the Dow are not always far from actual numbers. In fact, last year the Dow closed at 12,463, just 7 points below his target of 12,470.

Starting with 3M (MMM Quote), he said this is a stock that is already up 11% for the year. This company has had buybacks and a dividend boost, but there's a chance this might be included in the stock.

3M should finish the year at $94, which is not enough upside to purchase the stock, according to Cramer.

General Motors (GM Quote) is a company that didn't listen to its cost-cutting board member Jerry York. Now, after York's resignation, Cramer believes that the stock is not worth owning.

He said he'd rather see people in the "nifty" GM bond, which gives investors a "nice" percentage return year after year.