Cramer's 'Mad Money' Recap: Buying Into Fear (Final)

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NEW YORK (TheStreet) -- "Try to ignore the bears that are spewing out the negatives," Jim Cramer told the viewers of his "Mad Money" TV show.

Cramer told viewers that despite the media's depiction, we are not on the eve of destruction, and in fact, there are even still some opportunities out there.

Cramer said the bears' arguments for why the markets should be dramatically lower are endless, from a government-mandated slowdown in China, to debt woes in Europe, to a mining tax in Australia.

The list continues, he said, to include the price of oil, banking regulation, fears of terrorism and even the investigation into Apple's (AAPL) business practices. "We have to wait until all these fears are though," said Cramer, but that doesn't mean there aren't opportunities out there.

Cramer said the drug companies, including Abbott Labs (ABT), a stock which he owns for his charitable trust, Action Alerts PLUS, are very cheap at the moment. He said food stocks, like General Mills (GIS) and Perrigo (PRGO) are also ripe for the picking.

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Cramer also gave the nod to high-yielding dividend stocks like Inergy (NRGY) and natural gas plays like National Fuel Gas (NFG). And he liked utilities such as Dominion Resources (D) which is seeing an uptick in demand.

Cramer's list of opportunities continued to include Nike (NKE) and Starwood Hotels (HOT), two recently featured companies on "Mad Money," along with retailers Wal-Mart (WMT) and Costco (COST).

Finally, Cramer said investors can speculate on names like Sprint (S) or Motorola (MOT), or even on some big, beaten down industrials like 3M (MMM) or Boeing (BA).