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) -- The charges against

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS, aren't enough to sway the markets' direction for long, Jim Cramer told viewers of his "Mad Money" TV show Friday.

In a nutshell, Cramer said that stocks go up and down based on one thing, corporate profits, and today's news against Goldman have absolutely nothing to do with the corporate profits of


(AAPL) - Get Apple Inc. Report

, another Action Alerts Plus name, or


(VZ) - Get Verizon Communications Inc. Report


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TheStreet Recommends


(KO) - Get Coca-Cola Company Report

. To think otherwise "is just nuts," he said.

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Cramer said today's selloff provides an opportunity to review his rules for investing, which include staying diversified, doing your homework, not being greedy when you have big gains, and sticking with high paying dividend stocks when times get tough.

Cramer said that one event, at one company, should never be enough to change investors opinions on the entire market. He told viewers to stay in the game, and to always trust that the market is not rigged, and the chips are not stacked against you.

Next Week's Game Plan

So how should investors play the market in a post Goldman world? Cramer laid out his game plan for next week's action. He said that he'd start by doing nothing Monday morning, as the markets will still be processing this weekend's negative headlines. But by Monday afternoon, Cramer said opportunities will emerge.

Cramer said he'd first look at companies that have just reported great numbers, and have nothing to do with Goldman, companies like


(INTC) - Get Intel Corporation Report

, an Action Alerts Plus name, and railroad


(CSX) - Get CSX Corporation Report


Cramer said he'd next look at the financials brought down by the Goldman news, stocks like

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report


Bank of America

(BAC) - Get Bank of America Corp Report

, two more Action Alerts plus names. Cramer said he'd also keep an eye on


(C) - Get Citigroup Inc. Report

, which reports on Monday.

Next, Cramer said he's consider big industrials that have not reported yet, such as


(BA) - Get Boeing Company Report



(CAT) - Get Caterpillar Inc. Report


John Deere

(DE) - Get Deere & Company Report


Cramer also gave the nod to


(F) - Get Ford Motor Company Report

, and retail plays like

Hot Topic

( HOTT),

Scotts Miracle-Gro

(SMG) - Get Scotts Miracle-Gro Company Class A Report


(AMZN) - Get, Inc. Report


FInally, there's


(AAPL) - Get Apple Inc. Report

, said Cramer. This Action Alerts Plus stock also reports next week, said Cramer, but he wouldn't buy it for the quarter but rather for the next few years.

A Case of Arrogance

Cramer took a few moments to sum up today's Goldman news by saying that there's a line like between illegal, and just plain stupid. He said that while he's been pro-prosecution in his career for years, based on what he's seen so far, the government's case against Goldman is weak. at best.

Cramer explained that Goldman doesn't appear to have done anything wrong. When a hedge fund client came to them asking for an investment tool to play the housing market in 2007, Goldman did what it was supposed to: It hired an outside firm to provide the due diligence. He said the resulting prospectus on the new investment tool seemed to be very thorough and transparent.

So Cramer wondered whether it was illegal for Goldman to then sell this new product, or just stupid for anyone to buy it. He said he's not sure, but he does know that people made money hand over fist before the market ultimately collapsed.

Cramer said he's all in favor of financial reforms, and he likes a vigilant prosecution, but not an over-zealous one. He said at first glance Goldman appears to be arrogant, and arrogance is not illegal.

Chip IPOs on Fire

In the "Know Your IPO" segment, Cramer said that Alpha & Omega Semiconductor, which will begin trading under the ticker "AOSL" in about two weeks, is a deal worth getting in on.

Cramer said the semiconductor stocks are on fire, benefiting from both the mobile Internet tsunami and also a cyclical upturn in corporate and personal computers. He said the last two semiconductor IPOs,


(MXL) - Get MaxLinear, Inc. Report


Avago Technologies

(AVGO) - Get Broadcom Inc. Report

both had successful IPOs.

Cramer said the Alpha & Omega comes from strong bloodlines, with the company's nine member management team racking up a combined 180 years of semiconductor experience.

The company manufactures power management chips, with an impressive portfolio of over 600 products. With 60% of Alpha & Omega's revenues coming from PCs, 20% from consumer electronics and 20% from industrial applications, Cramer said the company is also well diversified.

Cramer said this venture-backed IPO is shaping up to be a hot one, with none of the current partners selling out on the deal. He said he'd be willing to pay 12 times earnings, or $23 a share for Alpha & Omega, which is above the projected IPO range of $17 to $19 a share.

Lightning Round

Cramer was bullish on


(AB) - Get AllianceBernstein Holding L.P. Report


Kinder Morgan Energy Partners



City Telecom HK

( CTEL),

Zions Bancorp

(ZION) - Get Zions Bancorporation, N.A. Report



(VZ) - Get Verizon Communications Inc. Report



(PRU) - Get Prudential Financial, Inc. Report


He was bearish on

UnitedHealth Group

(UNH) - Get UnitedHealth Group Incorporated Report


Hartford Financial Services

(HIG) - Get Hartford Financial Services Group, Inc. Report


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

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC


Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by

clicking here.

For more of Cramer's insights during the Lightning Round, clickhere


At the time of publication, Cramer was long Goldman Sachs, Apple, Intel, Intel, JPMorgan Chase, Bank of America.

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.