Cramer's 'Mad Money' Recap: New Life for Ailing Stocks

Cramer also likes Black & Decker for its buyback program. The company has cut its float by almost a third in recent years and has increased its dividend as well, all without increasing its debt, Cramer noted.

In 2004, Black & Decker had 81 million shares outstanding and was at $90 a share, making it a $7.2 billion company.

But today the company has just 63 million shares outstanding at $73 a share, making it just a $4.5 billion company, even though there's been a 20% increase in sales since then. "Black and Decker is so cheap that it's begging to be bought," Cramer said.

Fund Advice

Cramer welcomed Brian Ferguson, manager of the Dreyfus Premier Strategic Value Fund (DAGVX Quote) to the show to discuss his investment strategy. The fund has yielded an average annual return of 18% since Ferguson began managing the fund in 2003.

Ferguson said now is not the time to fight the Federal Reserve. Aggressive monetary policy, he said, is the premier leading indicator for bull markets in the financials and he's adhering to his strategy and sticking with the financial stocks.

Cramer said he's sticking with Ferguson and recommending the Dreyfus Strategic Value Fund as one of the best aggressive growth funds out there.

Lightning Round

Cramer was bullish on Focus Media(FMCN Quote), Scana(SCG Quote), PPL(PPL Quote), Exelon(EXC Quote), Countrywide Financial(CFC Quote) and National Oilwell Varco(NOV Quote).

Cramer was bearish on Harman International(HAR Quote), VisionChina Media(VISN Quote), Moneygram(MGI Quote), NetSuite(N Quote) and Brocade Communications(BRCD Quote).

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

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