Cramer's 'Mad Money' Recap: Feb. 11

This article originally appeared Feb. 11

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Wall Street may have been in the hands of Washington today, but Jim Cramer told the viewers of his "Mad Money" TV show that it was it was a "nothing day" for him.

Cramer said the market is clearly torn between depression and elation. He said while the Senate giveth, with its stimulus plan, the House taketh away, grilling bank executives about the financial crisis.

Cramer said the stock market may not be for everyone in times like these, with recession, bad earnings and financial stresses all hitting the markets at the same time. But, he said, "not everything is bad."

For example, the IPO of Mead Johnson (MJN Quote) was higher today, as he predicted.

Returning to principles he's mentioned countless times in the past, Cramer said the way to deal with tough markets is to first, stay diversified.

He said every portfolio needs some stocks, bonds, cash and even gold. He recommended Freeport McMoran (FCX Quote), a stock which he owns for his charitable trust, Action Alerts PLUS, as one great way to play gold.

Cramer also reminded viewers they need to look for big dividend-paying stocks. Likewise, he said, investors need to speculate, to keep things interesting. He said both high quality biotech names and medical device makers are two great areas for that.

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