Cramer's 'Mad Money' Recap: Time to Leave Home

"Don't get caught in the housing ripple," he warned. "Try to get out of housing companies. In addition, anything related to mortgages or loans should be sold, because the ripple effects extend pretty far and are pretty ugly."

Chipotle Off the Old Block

Despite the fact that certain stocks should be avoided, there are opportunities in this marketplace that people can pursue once they take some profits, Cramer told viewers.

Take, for example, lululemon (LULU Quote), which a few days back was up significantly on one of the worst days in the market.

Another stock in which Cramer said he sees opportunity is Garmin (GRMN Quote), "up a fantastic 8 points."

Market players can see the opportunity in Allergan (AGN Quote) because of boomers' desire for wrinkle-free skin, as well as in Under Armour (UA Quote), which is up, Cramer said.

He also sees opportunity in defense stocks, such as Raytheon (RTN Quote), and in oil plays.

"You have to focus on the good as well as the bad," Cramer said as he welcomed Chipotle Mexican Grill (CMG Quote) CFO Jack Hartung to the show. Cramer congratulated him on Chipotle's good quarter and asked about the effects of rising food costs on the company.

"Food costs are a lot higher," Hartung said. "It was worse by 100 basis points this quarter." But because Chipotle prides itself on using the best ingredients, including meat that's naturally raised, it's always had high food costs, the CFO said. Chipotle was, however, more efficient in labor and utilities.