Cramer's 'Mad Money' Recap: Shelter From the Storm

Second, does your stock have mostly domestic business that can't be offset from its international exposure? This category includes a lot of companies, Cramer said. Sell these companies -- or at least don't buy them, he advised.

Finally, if you own a stock that needs to borrow money in order to make acquisitions, then you should think about selling it, as well. Cramer said he would sell the private-equity firms, banks and brokers that have been taking a beating.

The Bears Stearns (BSC Quote - Cramer on BSC - Stock Picks) and Blackstones (BX Quote - Cramer on BX - Stock Picks) are at the center of the storm and should be avoided, he said.

Game Plan E.R.

During his emergency Thursday "Game Plan," Cramer gave viewers a list of stocks that they could buy only if they had already taken some profits in existing positions. Soft-goods stocks, "which have good growth," should work now, he said.

The "best one" here is PepsiCo (PEP Quote - Cramer on PEP - Stock Picks), which is back down to where it was before it reported its "great" quarter, he said

Kellogg (K Quote - Cramer on K - Stock Picks), Kimberly-Clark (KMB Quote - Cramer on KMB - Stock Picks) and Clorox (CLX Quote - Cramer on CLX - Stock Picks), which Cramer owns for his charitable trust, Action Alerts PLUS, can be owned here, too, he said.

Also, Cramer's "wild bull markets" in the machinery, infrastructure, metals, oil and oil services, aerospace and agriculture sectors should work here, as well, he said. In oil and oil services, Cramer likes Schlumberger (SLB Quote - Cramer on SLB - Stock Picks); in aerospace, he likes Boeing (BA Quote - Cramer on BA - Stock Picks); and in the agriculture complex, he likes Monsanto (MON Quote - Cramer on MON - Stock Picks).

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