Cramer's 'Mad Money' Recap: Solid St. Jude

"We've really been working hard for our shareholders for the last three years" and Ward said they will continue to do so.

There are so many CEOs Cramer said he can't stand, and he doesn't understand why TCI is picking on one that's making market players money. "I say buy CSX," he said.

Game Plan

Right now, in an up-and-down market, Cramer told viewers he doesn't feel confident enough to suggest an individual stock to invest in.

However, after listening to CEO John Stumpf's speech at Wells Fargo (WFC Quote) about sinking housing prices and how the U.S. housing market hasn't been this bad since the Great Depression, Cramer said he had a vision.

"I couldn't stop thinking that if Wells Fargo is the best [in its group] and things are so bad for them, what about the other financials," he said. Cramer stressed that although he doesn't believe in the bear case, people must be prepared for the worst.

For now he advised investors to stay away from Countrywide Financial (CFC Quote), Washington Mutual (WM Quote), Downey Financial (DSL Quote), E Trade (ETFC Quote), Centex (CTX Quote), Beazer Homes (BZH Quote), Pulte Homes (PHM Quote), Standard Pacific (SPF Quote), Ambac (ABK Quote), MBIA (MBI Quote), PMI Group (PMI Quote) and MGIC (MTG Quote).

Instead, Cramer recommended viewers stay defensive with companies like Avon (AVP Quote), Colgate (CL Quote), Altria (MO Quote), which he owns for his charitable trust, Action Alerts PLUS, Clorox (CLX Quote), Coca-Cola (KO Quote) and MedcoHealth (MHS Quote).

Cramer said he can't imagine that the Federal Reserve will let the current credit situation overwhelm the economy. If there's a financial crisis and any one of the previously mentioned financials, homebuilders or mortgage insurers goes bankrupt, the Fed should cut rates, he said.

Lundin Calling

While mining stocks like CVRD (RIO Quote) and BHP Billiton (BHP Quote) have been working, Lundin Mining (LMC Quote) has not been, Cramer said.

The stock is "down badly" after reporting a quarter the Street didn't like, he said. Should people back up the truck or get rid of it? To answer the question Cramer called on CEO Karl-Axel Waplan.

Lundin Mining's long-term growth story still in tact, Waplan said. "We are headed in the right way." The CEO said Lundin Mining is making the money it should, and as its production continues to grow, he expects the company will make even more money in the future.

"You have to hold on to it," Cramer said of Lundin Mining. It has been a tough ride, but people can't just walk away. At the same time, he said investors also shouldn't pull trigger to buy more of the stock until they see another quarter.

Lightning Round

Cramer was bullish on Verizon (VZ Quote), AT&T (T Quote), Textron (TXT Quote), Costco (COST Quote), GameStop (GME Quote), Google (GOOG Quote), Olin (OLN Quote) and Cisco (CSCO Quote).

Cramer was bearish on MasterCard (MA Quote), Blockbuster (BBI Quote), CMGI (CMGID Quote), MetroPCS Communications (PCS Quote), Macy's (M Quote) and Art Technology Group (ARTG Quote).

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

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

1 What would best describe your stance heading into the coming week of trading? Bullish Bearish Neutral 2 Which of these sectors do you think is set to move up in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities 3 Which of these sectors do you think is set to move down in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities View the results without voting