Cramer's 'Mad Money' Recap: Wells Fargo Will Keep

However, such dividends tend not to be "worth it," because when "stocks go lower, yields go higher."

Instead, Cramer urged investors to consider buying companies that are raising their dividend. He recommended Reynolds American (RAI) as a company paying a "nice dividend," at 5.5% yield -- even higher than that of Altria (MO), which he owns for his charitable trust, Action Alerts PLUS -- in addition to being a "smart play."

Cramer called Reynolds, the world's second-largest tobacco company, an "ideal stock in this environment" because "nothing is more defensive than cigarettes."

Mad Mail

In his first response in his "Mad Mail" segment, Cramer iterated that Bear Stearns (BSC) should be avoided.

Next, Cramer told a mailer that he didn't like Jones Soda (JSDA), adding that the stock's past ascent was "how to make a million" in the market.

Last, Cramer told investors to go toward tech stocks for their "great balance sheets and great products." Google (GOOG) is safe, he said.

Lightning Round

Cramer was bullish on Total System (TSS), Crocs (CROX), Nastech Pharmaceutical (NSTK), Eagle Bulk Shipping (EGLE), General Maritime (GMR), Apple (AAPL), Terex (TEX), BioMarin Pharmaceutical (BMRN) and International Game Technology (IGT).

Cramer was bearish on QLogic (QLGC), Cepheid (CPHD), Acadia Pharmaceuticals (ACAD), Knight Transportation (KNX) and WMS Industries (WMS).

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

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