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) -- After another miserable day in the markets, Jim Cramer offered the viewers of his

"Mad Money"

TV show Friday four remedies for the ailing stock market.

1. Lower stock prices. He said investors simply won't pay high prices in a declining economy.

2. Debt-ceiling agreement. Washington has to deliver a debt agreement to lift investors out of stock purgatory.

3. Lower oil prices. Cramer once again pleaded to Washington to raise margin requirements for oil futures. He said the move will instantly lower prices at the pump.

4. Chinese interest rates. Cramer said all China needs to do is signal that it has done raising interest rates and the world will breathe easier.

Cramer said without at least one of these market remedies, stocks will remain in the danger zone. He also recommended raising cash on any sign of market strength.

Turning towards individual stocks, Cramer said he would normally be a buyer of

G-III Apparel

(GIII) - Get G-III Apparel Group, Ltd. Report


Phillips-Van Heusen

TheStreet Recommends

(PVH) - Get PVH Corp. Report

reported solid results. However in today's market, he said he's taking a wait-and-see approach to G-III Apparel.

On Tuesday, Cramer said

Booz Allen Hamilton

(BAH) - Get Booz Allen Hamilton Holding Corporation Class A Report

may be an opportunity, but he's waiting to hear the conference call first. On Wednesday,


(CIEN) - Get Ciena Corporation Report

, a stock that's been trading awfully, might be a buy, but only on positive news from the company.

Cramer said he'd hold onto



ahead of Thursday's earnings, but would be a seller of

JM Smucker

(SJM) - Get J.M. Smucker Company Report


Finally on Friday, Cramer said

Lululemon Athletica

(LULU) - Get Lululemon Athletica Inc Report

reports. After catching nearly a double since first recommending it, Cramer urged investors to take profits ahead of the quarter and see what the company has to say.

Speculative Health Care Play

As the obesity epidemic rolls on across the world, Cramer highlighted a speculative health food company that may be just what the doctor ordered. He said the little known


(STKL) - Get SunOpta Inc. Report

is a vertically integrated health food stock that trades at just 14 times earnings despite having a 30% long-term growth rate. SunOpta also trades at a 25% discount to its health food peers.

Cramer said part of SunOpta's problem is that it's a difficult to understand the company, which is made up of 23 different food companies that were all acquired. Making matters worse, SunOpta also has a totally unrelated industrial minerals business that makes up 9% of sales.

But despite its hodge-podge nature, Cramer said SunOpta delivered in-line earnings on May 11 on revenues that were up 20%. What's better, SunOpta grew sales 9.7% organically, meaning there's more demand for the company's products. SunOpta derives 29% of sales from outside the U.S., which 70% year over year.

Cramer said he'd do some research on this stealth health food company, as it could be as profitable as

Sequans Communications

(SQNS) - Get Sequans Communications SA Report

, a stock Cramer recommended a few weeks ago that's seen a solid profit. Cramer said he'd be taking profits in Sequans after its incredible run.

Winning Oil Stocks

With speculators clearly in control of our nation's oil markets, Cramer said it's time to start thinking about how to make money off of them. He said as long as oil stays above $60 a barrel, the U.S. oil shale companies are in the sweet spot to make a ton of money.

Cramer's featured the Bakken shale region in North Dakota and Wyoming in past shows and said companies like


(HES) - Get Hess Corporation Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS, along with

EOG Resources

(EOG) - Get EOG Resources, Inc. Report


Continental Resources

(CLR) - Get Continental Resources, Inc. Report


Whiting Petroleum

(WLL) - Get Whiting Petroleum Corporation Report

remain among his favorites.

But with U.S. oil production expected to rise by 25% or more over the next decade, Cramer said the big players in the Eagleford shale in Texas, along with the Permian Basin, also have a lot of winning stocks.

He said that

Petrohawk Energy


is producing some 250,000 barrels a day in the Eagleford shale, and

Poineer Natural Resources

(PXD) - Get Pioneer Natural Resources Company Report

is increasing its rig count in the region form nine to 12. Cramer also gave the nod to the speculative

Sandridge Energy

(SD) - Get SandRidge Energy, Inc. Report

, which is also an up-and- comer in the U.S. oil boom.

Second Looks

In a housekeeping segment, Cramer circled back on a few stocks that stumped him in earlier shows. He said that

Universal Panel

(PANL) - Get Pangaea Logistics Solutions Ltd. Report

, which hold patents for next-generation LCD displays, is just "too darn risky."

He said the story is exciting, but there's nothing compelling about owning the stock. Cramer said he wouldn't go near this stock until it has a consistent track record for earnings.

Cramer said simply that he missed the move in medical device maker


(ABMD) - Get ABIOMED, Inc. Report

, a stock that's up 80% for the year. Cramer said he'd wait for resolution to the company's Medicare reimbursement issue or wait for a better price before pulling the trigger on this stock.

Finally, Cramer said that he does like

Calumet Specialty Products

(CLMT) - Get Calumet Specialty Products Partners, L.P. Report

which refines oil into lubricants and other products. Cramer said this company's 8.9% dividend yield is covered 1.2 times by its cash flow.

Lightning Round

Cramer was bullish on

Stewart Enterprises



(AMZN) - Get, Inc. Report


Parker Drilling

(PKD) - Get Parker Drilling Company Report


Ensco International




(AA) - Get Alcoa Corporation Report


He was bearish on

Marathon Oil

(MRO) - Get Marathon Oil Corporation Report


Closing Comments

In his "No Huddle Offense" segment, Cramer responded to his critics who blasted him for recommending investors get in on the coming IPO of Groupon.

Cramer said he doesn't know if Groupon will be a boom or a bust after it comes public, but he does know the underwriting process that will be bringing it public. He said it's a certainty that demand for Groupon shares will outstrip supply, sending the IPO sharply higher to a point where investors can then exit.

Cramer said he doesn't care if Groupon will ultimately be a profitable company or not, or whether it will become the next


(GOOG) - Get Alphabet Inc. Class C Report

or the next dot-bomb disaster. He said it's his job to help investors make money, and the Groupon will deliver.

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

To contact the writer of this article, click here:

Scott Rutt


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At the time of publication, Cramer was long Hess.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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 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, 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.