Cramer's 'Mad Money' Recap: Next Week's Game Plan

Splunk had a "smoking hot" IPO in April, he said, and its valuation is "like lava."

"I'll say this for Splunk," he said, "it's a good idea but budgets are tight. Free products do similar things."

Also, come Oct. 15 the lockup period will be over and insiders can start selling their shares. "Take the money and run," he advised.

Finally, he said he was touched by the reaction from viewers writing after his "Day of Atonement" show Wednesday where he admitted his investment mistakes. "People know I do the show for you and I work hard every day to try to do the right thing to help your family save," he said.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer sounded off on the new iPhone 5 and the coming BlackBerry 10 from Research In Motion (RIMM), which he said are two phones he doesn't like but had better sell well or their companies' stocks will not rally.

The iPhone, of course, is made by Apple (AAPL), a stock he owns for his charitable trust, Action Alerts PLUS. He noted CEO Tim Cook's apology for the phone's map application, "which has been universally panned."

The stock, however, remains investible although there's no hurry to buy. The map app's black eye is only temporary. He's also in no hurry to get the iPhone 5 either. There's no way he's going to trade up on a phone where the map app is a trade down.

Cramer said he has been worried ever since Steve Jobs died that Apple would be compromised in what it gives users. The iPhone 5 is not ready for its millions of map app users, he said.

He said he likes the BlackBerry keyboard, but he's not even sure when the BlackBerry 10 is coming out. "It may be six months before we see BlackBerry 10," he said. Who can wait for then?

Research In Motion may not have the BlackBerry 10 in hand but it sure has cash on hand. It has become a better long than a short, Cramer said.

Now that the company has stopped the bleeding it may catch a takeover bid just for its intellectual property, its great keyboard and its 80 million strong subscriber list.

--By Anthony Buccino for TheStreet.com

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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