Cramer's 'Mad Money' Recap: How to Play Next Week's Market (Final)

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NEW YORK (TheStreet) -- How should investors play next week's market? Jim Cramer outlined his game plan to the viewers of his "Mad Money" TV show Friday. He dissected the market decline, told viewers what they need to buy and what they need to watch out for.

Cramer said there are three phases to most market declines. In the first phase, everything goes down. But in the second phase, he said, a few stand outs begin to emerge, like the defensive stocks, which include anything you can eat, drink, smoke or medicate with, he said. This is also the phase when the strong secular growers stand out. Then finally in the thirds phase, the rest of the markets rebound.

Cramer said we're currently still in the second phase of the decline. That's why he's looking toward stocks that have already preannounced their earnings and told us things are better. Cramer likes General Mills (GIS), along with Procter & Gamble (PG), a stock which he owns for his charitable trust, Action Alerts PLUS. Both of these companies have already announced better than expected results, yet sold off anyway, he said.

Cramer also gave the nod to Xilinx (XLNX) and Teradyne (TER) in the tech sector, and also noted that tech bellwether and Cramer fav Apple (AAPL) was up big on a down day.

Cramer rounded out his picks with Boeing (BA). He said that this company also is beginning a huge secular growth trend and is an accidental high-yielding stock with a 3.3% dividend.