Cramer's 'Mad Money Recap': Green Stocks Hit Pay Dirt

After a big decline, Cramer said it was time to reload on Fuel-Tech, which is up 8.9% since he recommended the stock a year ago. The stock swings wildly up and down because the company under promises and over delivers, Cramer said.

"Coal has been working, but I think this will do especially well if a Democrat gets in the White House," Cramer noted. Fuel-Tech is a clean coal play as it increases efficiency of coal plants. Companies will be searching out pollution control technologies from Fuel-Tech. "It's just a question of execution," Cramer said.

OM Group suffered from a drop in cobalt prices, Cramer said, even though the stock is up 11.3% since last year. Cramer recommended taking a profit after the stock rebounded, as he wouldn't want exposure to the cobalt market.

Caller Matt in Massachusetts said that water is the new oil, and asked about which company Cramer would look at. "Most of the water plays have been a disaster," he said. "I have not liked the pump group." Cramer suggested ITT Corp. (ITT Quote), which has yet to miss earnings.

Cramer told caller Chris in Georgia that he would stay out of China energy companies such as Suntech Power (STP Quote), LDK Solar (LDK Quote) and Trina Solar (TSL Quote).

"We are not playing with any of these," Cramer said. "We are staying out of China. We're going to keep out of China until we think that market has finally bottomed, and it hasn't."

Know Your IPO

In this segment, Cramer recommended Intrepid Potash, the largest U.S.-based producer of potassium chloride that should come public this week under the ticker IPI.

"I've been recommending this agriculture group for years now, and I think I'll keep recommending it for years," Cramer said, adding that Intrepid Potash is the "next great way to play this theme." Cramer said that the combination of worldwide drought and worldwide famine makes this the theme that just won't quit.

Cramer said he has been behind Potash (POT Quote), Mosaic (MOS Quote), and Agrium (AGU Quote) since Oct. 2005 because "the returns are so good they're scary."

Intrepid Potash will be the first western pure play on potash, Cramer said, and has lower production costs than Potash. "It's an essential part of the agriculture bull market," he said.

Cramer said that If Potash was a hot stock then, Intrepid Potash could be heading higher, but he would not pay more than $34 a share. "I think that Intrepid goes much higher than that, but if you're trying to snap it up in the after market, you need a ceiling."

He recommended trying to pick up the stock at its offering by going through Goldman Sachs (GS Quote), Merrill Lynch (MER Quote), or Morgan Stanley (MS Quote).

"It worked with Visa (V Quote), our last IPO recommendation, we think it'll work again," he said.

Mad Mail

In this segment, Cramer said that the FCC is "pantsing" the Justice Department by delaying an approval of the XM Satellite Radio (XMSR Quote) and Sirius (SIRI Quote) deal. "This deal must be approved," Cramer said.

Cramer said that he got it wrong with Google (GOOG Quote) because of wrong third-party data from comScore (SCOR Quote). "I relied on comScore data, and comScore sent me in the wrong direction. I wasn't skeptical enough. I will not do that again. I will not use that data again."

In response to an email asking what to do with Coca-Cola (KO Quote) and Pepsi (PEP Quote), Cramer said to stick with them. "All of the defensive stocks are doing quite poorly. I like to pick up defensive stocks when they're selling," he said.

Lightning Round

Cramer was bullish on Caterpillar (CAT Quote), L3 Communications (LLL Quote), Alliant Techsystems (ATK Quote), General Dynamics (GD Quote), Northrup Grumman (NOC Quote), Hasbro (HAS Quote), Tele Norte Leste (TNE Quote), Frontline (FRO Quote), Hess (HES Quote), Occidental Petroleum (OXY Quote), Conoco Phillips (COP Quote), Vale de Rio Doce (RIO Quote), BHP Billiton (BHP Quote), Freeport McMoRan (FCX Quote), JPMorgan Chase (JPM Quote) and Hudson City (HCBK Quote).

Cramer was bearish on Intuitive Surgical (ISRG Quote), Mattel (MAT Quote), Valero (VLO Quote), Capstead Mortgage (CMO Quote), and Paragon Shipping (PRGN 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.