Lang noted that Himax's strong performance over the past two months has been on high volume, meaning that large buyers are beefing up their positions. This trend was also confirmed by the MACD momentum indicator signaling a bullish crossover and the William's oscillator signaling an extended overbought condition where buyers just can't seem to get enough of the stock.
Cramer said that in a troubled market, investors need something to get excited about, and Himax could be that stock. He noted the company has $1 per share in cash and also pays a 2.5% dividend, which will afford it some protection as the markets continue to fall.
Cramer said Himax is most definitely a speculative name, but any pullback in the stock may prove to be a great entry point.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer said businesses should start fighting against those in Washington who think a debt default is OK -- it's business that will bear the brunt of the consequences.
Cramer said we're already seeing the effects of a default. There's no company that will offer a positive outlook this quarter knowing that uncertainty lies ahead. He said the expectations can only come down from here, whether it's retail, tech or just about any other sector.
If the country does default, then it will be business that deals with the impending recession, or worse. The Federal government? It has little to worry about. You and me? We'll be in a whole lot of pain as the world's financial system once again comes unraveled.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
-- Written by Scott Rutt in Washington, D.C.
To email Scott about this article, click here:
Follow Scott on Twitter
or get updates on Facebook,