Cramer's 'Mad Money' Recap: Feb. 3

This article originally appeared Feb. 3

Click here for an archive of Jim Cramer's Mad Money recaps.

---

"Today's market was all about the good banks versus the bad banks," Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

The good "banks", he said, are companies that have huge piles of cash and don't need any additional money to expand or stay in business. The bad "banks" desperately need cash, from anyone, at any cost.

Cramer said traditionally, the companies with the money were actual banks, but in today's market, the only companies investors can bank on are anything but the bank stocks.

Cramer said the good "banks" are companies like Schering-Plough (SGP Quote), which reported a huge quarter and has money to burn. Merck (MRK Quote) also reported a gigantic quarter and is flush with cash to buy other companies or its own stock.

Cramer said the same can be said for Medco Health Solutions (MHS Quote) and Exxon Mobil (XOM Quote).

Cramer expanded the good "bank" list to include Verizon (VZ Quote), Salesforce.com (CRM Quote), McDonald's (MCD Quote) General Mills (GIS Quote), and Bristol-Myers Squibb (BMY Quote). He owns the latter two in his Action Alerts PLUS portfolio.

Cramer also favored Goldman Sachs (GS Quote), which he owns for his Action Alerts PLUS portfolio.

Cramer: The Cyclical Trade