Cramer's 'Mad Money' Recap: Get Out of HP, Best Buy Now

Lightning Round

In the Lightning Round, Cramer was bullish on Duke Energy (DUK), iShares FTSE China 25 (FXI), Cisco Systems (CSCO) and Plains All American Pipeline (PAA).

Cramer was bearish on Delta Air Lines (DAL), Western Union (WU), Qihoo (QIHU), Applied Micro Circuits (AMCC), Chimera Investment (CIM) and Intel (INTC).

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Carolyn Boroden over the direction of the overall market.

According to Boroden, a daily chart of the S&P 500 shows some key Fibonacci indicators, ones that indicate the downward trend in the markets may be about to change. She noted the S&P's decline from April 2 through June 4 lasted 43 trading days. The current decline from Sept. 14 through last Friday was also 43 trading days.

In addition to this correlation, Boroden also said showed the market's rally from June 4 through Sept. 14, when multiplied by 61.8%, a key Fibonacci number, also translates to 43 days.

Boroden said she remains cautious on the markets, however, because it still must pass resistance levels at 1,391 and 1,453 on the S&P 500 before it would be completely out of the woods. If the index can hold these levels and rally beyond 1,453, she said, then it could surge to 1,510 for an 8% gain.

Cramer said Boroden has had an excellent track record predicting the S&P so far this year, which makes him inclined to believe her again.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on what really matters to the U.S. stock market.

Last year, the threat of a French debt downgrade would've sent our markets into a tailspin. Today, such an event barely envoked a collective yawn.

Cramer said a lot has changed over the past year. Many foreign banks have raised a ton of cash while other companies with European exposure have been working hard to distance themselves from the troubled continent.

Cramer said the U.S. taught us that downgrading a country's debt isn't really that big of a deal. Meanwhile, everyone has had time to prepare and anticipate such downgrades, making them far less of an issue than they once were.

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

To email Scott about this article, click here: Scott Rutt

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

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