Cramer's 'Mad Money' Recap: GameStop's Green Christmas

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Not only did Wal-Mart's WMT quarter make the dismal market a bit brighter, but its conference call was full of great investment ideas, Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

One of the nuggets Cramer gleaned from the call was how well video game retailer GameStopGME will do during the holidays.

Wal-Mart said consumer electronics will continue to be strong for them this Christmas, notiing such items as global positioning systems, televisions, digital cameras, computers and video games.

However, Cramer believes digital cameras are "a no-go" because they're made in China, which makes them too hard to buy right now. He also doesn't like Garmin GRMN as a play on GPS because of its current bidding war with TomTom for Tele Atlas.

Concerning computers, Cramer said he's been a backer of Hewlett-Packard HPQ, which he owns for his charitable trust, Action Alerts PLUS, but Wal-Mart is not a big customer of that computer manufacturer.

Wal-Mart does sell Dell DELL, but between Dell and Hewlett-Packard, Cramer said he prefers the latter.

That leaves us with TVs and video games, he said. For video games, Activision ATVI may seem like a possible company to invest in, but TheStreet.com's Michael Comeau has reported that expectations at the company have gotten too high.