Cramer's 'Mad Money' Recap: Next Week's Game Plan (Final)

Looking Ahead

In the "Executive Decision" segment, Cramer once again welcomed TJ Rodgers, president and CEO of Cypress Semiconductor (CY), whose stock fell 10% Thursda after the company issued cautious guidance. Shares of Cypress are up 325% however since Cramer first recommended it in September 2008.

Rodgers explained that there was a hole in Cypress' revenues caused by a decline in touchscreen sales. He said the problem stemmed from the company being one quarter too late with its latest products but, he added, those products are now being designed into smartphones that will debut in the second half of 2012.

Asked whether the recent stock weakness is a buying opportunity for Cypress, Rodgers said "absolutely." He said the company has $300 million left in its stock repurchase program and the company will be aggressively buying any time the market creates an opportunity like it has now. "Buy low, sell high," Rodgers said will remain the Cypress strategy when it comes to their buyback program.

Rodgers also touted the company's newest cellphone chips as being the best in the business, saying they will be taking market share as the smartphone market continues to expand. Rodgers was also bullish on the e-reader market, saying that Cypress has a superior, low-cost solution for e-readers as well.

Finally, when asked for comment on the state of business in California, Rodgers said that California remains the worst state to do business in and the state's government continues to do a terrible job in turning itself around. He noted that CEO surveys have ranked California dead last for business five years in a row.

Cramer advised using the lull in Cypress' stock price to buy in before the company does it themselves.

Lightning Round

Cramer was bullish on Chevron (CVX), Heckmann (HEK), Autodesk (ADSK) and Hersha Hospitality (HT).

He was bearish on EQT Corp (EQT).

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes for today's markets. The first caller's portfolio included Bristol-Myers Squibb (BMY), Kinder Morgan Energy Partners (KMP), Duke Energy (DUK), Enbridge (ENB) and Annaly Capital (NLY).

Cramer said that Enbridge and Kinder were too similar and one had to be sold, but otherwise this portfolio was diversified.

The second caller's top holdings included Church & Dwight (CHD), Dollar General (DG), Mastercard (MA), Ball (BLL) and Hasbro (HAS).

Cramer said he liked this portfolio as is.

The third caller had First Energy (FE), AT&T (T), Bristol-Myers Squibb (BMY), Avon Products (AVP) and Whirlpool (WHR) as their top five stocks.

Cramer said this portfolio has excellent diversification but he's worried about Avon and also the dividend at Whirlpool.

--Written by Scott Rutt in Washington, D.C.

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