Cramer said he his hearing rumors that Nike could receive a guide-down ahead of the games, which he believes would be a "godsend."
There have been rumors recently that Nike orders haven't been particularly strong.
Cramer, for one, believes that Nike is a good long-term stock to invest in -- a stock whose long-term driver is the rising middle-class of China. "I just want to keep Nike in front of people," he said, pointing out that the first thing middle class people in China do when they have the money is to buy Nike wear.
is an interesting play too, Cramer said, but hasn't made as strong of an impression him as Nike.
raised its quarterly dividend -- even though bears predicted that the company would have to cut it.
Cramer recommended Caterpillar as a buy, and one of the stronger stories out there. He noted that it,
are doing far better than people realize. Cramer thinks that China's slowdown has bottomed out as Caterpillar continues working to expand its business in China and other emerging markets.
shares continue to be battered by the chain of events that followed the Gulf of Mexico oil spill, Cramer suggested looking at
-- which he owns for his charitable trust -- given that it's very much a "dusty," or land-based, oil-services play.
-- Reported by Andrea Tse in New York
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