Cramer's 'Mad Money' Recap: The Fed's Reckless Moves

Cramer said Medicis may be a stock to take a look at when the year-end tax-loss selling dies down.

Am I Diversified?

During the "Am I Diversified?" game, Cramer's first caller asked if his portfolio was diversified with these five holdings: Google (GOOG Quote), Countrywide (CFC Quote), Fannie Mae (FNM Quote), Morgan Stanley (MS Quote) and GameStop (GME Quote).

"You have got to take radical action now," Cramer warned the caller. Countrywide, Fannie Mae and Morgan Stanley may as well all be cut from the same "toxic cloth," he said, adding that the viewer should consider switching to a health care stock and a defense stock.

The second player called out the following five names: Flotek (FTK Quote), Zumiez (ZUMZ Quote), Barrick Gold (ABX Quote), Kendle (KNDL Quote) and Stratasys (SSYS Quote).

Cramer told the caller that while he was "totally diversified," but said the stocks are not his first picks.

The next caller asked Cramer about these five stocks: Kimberly-Clark (KMB Quote), Lundin Mining (LMC Quote), Walgreen (WAG Quote), Liz Claiborne (LIZ Quote) and SAP (SAP Quote).

Cramer blessed the portfolio as diversified, but said he prefers Jones Apparel (JNY Quote) to Liz Claiborne and CVS Caremark (CVS Quote), which he owns for Action Alerts PLUS, to Walgreen.

The last caller named these five plays: Apple (AAPL Quote), General Cable (BGC Quote), General Dynamics (GD Quote) Potash (POT Quote) and Goldman Sachs (GS Quote), the latter of which Cramer owns for his charitable trust.

Cramer congratulated the caller on a great portfolio.