This article originally appeared Feb. 11

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Wall Street may have been in the hands of Washington today, but Jim Cramer told the viewers of his "Mad Money" TV show that it was it was a "nothing day" for him.

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Cramer said the market is clearly torn between depression and elation. He said while the Senate giveth, with its stimulus plan, the House taketh away, grilling bank executives about the financial crisis.

Cramer said the stock market may not be for everyone in times like these, with recession, bad earnings and financial stresses all hitting the markets at the same time. But, he said, "not everything is bad."

For example, the IPO of

Mead Johnson



higher today

, as he predicted.

Returning to principles he's mentioned countless times in the past, Cramer said the way to deal with tough markets is to first, stay diversified.

He said every portfolio needs some stocks, bonds, cash and even gold. He recommended

Freeport McMoran

(FCX) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS, as one great way to play gold.

Cramer also reminded viewers they need to look for big dividend-paying stocks. Likewise, he said, investors need to speculate, to keep things interesting. He said both high quality biotech names and medical device makers are two great areas for that.

Cramer: Health Care Is Red Hot

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A Matter of Timing

In the "Executive Decision" segment, Cramer talked with medical device maker

St. Jude Medical



chairman and CEO Daniel Starks about his company's great earnings despite the weakening economy.

Starks said simply that St. Jude is in the right markets with the right products at the right time. He explained that the company is resistant to global economic trends and will be creating 2000 jobs in 2009.

When asked to highlight the company's three most exciting areas, Starks mentioned implantable defibrillators, new technologies to treat atrial fibrillation and neural technologies to treat drug resistant depression.

Starks also noted the company's introduction of new products in Europe to treat Parkinson's Syndrome as another promising area. He reaffirmed that demand for the company's chronic back pain devices outstripped supply and sales would've been higher if only they could've made more.

Cramer said investors who want to sleep at night with a stable growth company need to buy St. Jude Medical.

Strong Brands

In a second interview, Cramer talked with

VF Corp

(VFC) - Get Report

chairman and CEO Eric Wiseman, to discuss the state of the retail sector. VF Corp is a stock which he owns for his charitable trust,

Action Alerts PLUS.

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Wiseman acknowledged a difficult retail environment, but noted that VF Corp posted positive same-store comparison results. He said while foot traffic is down at most stores, the company continues to see strong sales due to its strong brands.

Wiseman said the company continues to pursue many different sale models for its products and has been able to hold prices, building its brands for the long term.

When ask about international growth, Wiseman said VF Corp's business abroad is doing well, accounting for 31% of sales last year and growing at 12%. He said the company remains focused in China, where it's a relative newcomer and is looking for 25% growth this year.

Finally, when asked about acquiring other great brands at distressed prices, Wiseman said "we are looking."

Cramer called VF Corp, with its accidentally high dividend yield of 4.5%, a great opportunity.

Am I Diversified?

Cramer talked with callers and evaluated their portfolios to see they have what it takes. The first caller's portfolio included

Deere & Co

(DE) - Get Report



(PPL) - Get Report



(MO) - Get Report


General Electric

(GE) - Get Report


Bristol-Myers Squibb

(BMY) - Get Report


Cramer said the caller has it right, with perfect diversification.

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The second caller's top holdings included

Consolidated Edison

(ED) - Get Report



(MRK) - Get Report



(WMT) - Get Report



(MCD) - Get Report


Research In Motion

( RIMM).

Cramer said this portfolio was also perfectly diversified.

Lightning Round

Cramer was bullish on

CVR Energy

(CVI) - Get Report


Nordic American Tanker

(NAT) - Get Report


Travelers Companies

(TRV) - Get Report


Goldman Sachs

(GS) - Get Report


Morgan Stanley

(MS) - Get Report


Cramer was bearish on

Avon Products

(AVP) - Get Report



(PRU) - Get Report


Limited Brands




(BPOP) - Get Report


International Flavors and Fragrances

(IFF) - Get Report


Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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clicking here


Read more of Cramer's Mad Money Lightning Round insights


For "Mad Money" performance statistics and other links, check out Mad Money stats

At the time of publication, Cramer was long Altria, General Electric, Bristol-Myers Squibb, Wal-Mart, Goldman Sachs, Morgan Stanley, VF Corp, Freeport McMoRan.

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.