Cramer's 'Mad Money' Recap: The Next Stocks to Own (Final)

Click here for an archive of Jim Cramer's Mad Money recaps. Click here to get Jim Cramer's Mad Money Post Game video exclusively on TheStreet.com.

---

"Staying ahead of the pack sometimes means buying stocks that are out of favor," was the lesson Jim Cramer taught to the live studio audience of his "Mad Money" TV show Friday.

He said the market is now clamoring for the defensive stocks, the same ones he recommended earlier this week when they were hated. But he said now is not the time to buy these names when they're already up 10%.

Cramer said one of the most important lessons he's learned about investing came from his days selling ice cream at the ballpark. "Get it while it's cold," was his mantra back then, and he said it needs to be investors' mantra now.

Cramer said the markets can't seem to get enough of the food, drug and beverage stocks, with companies like Abbott Labs (ABT Quote) and ConEd (ED Quote), along with General Mills (GIS Quote) and Pepsi (PEP Quote), two stocks which Cramer owns for his charitable trust, Action Alerts PLUS, all up strongly.

But Cramer said the time to but these names was last week, when they were unloved. He said investors need to sometimes own stocks when no one else likes them. That's why he recommended BP (BP Quote) and JPMorgan Chase (JPM Quote), two more Action Alerts Plus names, along with Apple (AAPL Quote) as the next stocks to own, ones that will be sought after by Wall Street again soon.