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"You know what you need in a volatile market?" Jim Cramer asked "Mad Money" viewers Friday. "A game plan," he answered.

"Forget the gibberish, and let me show you how to make a game plan," said Cramer, who explaned that he understands how market-players feel about the recent market volatility. "You may feel like throwing in the towel," he said. "You are still scared, and you want to see a bottom to end all bottoms."

Cramer noted that when the

Dow Jones Industrial Average

dipped Thursday, it failed to break through the bottom reached on Tuesday. "In fact, we bounced off this low heavily," he said.

According to Cramer, that's a bullish sign. "This is called a

whoosh

," he said. "It means we went down hard and bounced back." It's also called a "crescendo bottom."

"If you need a safety blanket, the crescendo bottom is it," he said. Cramer estimated the odds of its being a legitimate bottom at roughly 50%.

Regardless of whether that turns out to be a solid bottom, Cramer said, investors need to have a game plan.

The first part of the plan calls for investors to spend the weekend ranking their stock holdings into one of four groupings, just as he does for his

Action Alerts PLUS charitable trust:

  • Ones are the stocks you want to buy no matter what.
  • Twos are those you'd buy if they dropped in price.
  • Threes are those you'd sell if they moved higher.
  • Fours are the stocks you want to sell.

"Come Monday morning, sell all the Fours," Cramer said. It's called "throwing your maidens into the volcano to appease the gods."

"That way, if the selloff continues, you have cash available to buy more Ones."

Another phrase to describe the process is "circling the wagons," he said. "Use the quiet time of this weekend to circle the wagons."

Cash From Trash

"There is good money in the garbage business," Cramer said. "That's because you can always count on Americans to generate tons of waste."

But the industry now has the added benefit of a changing political picture in Washington, D.C.

"The Bolsheviks are already in Congress and could storm the White House," Cramer said in reference to Democrats.

He expects the Democratic Party will try to introduce more business regulations. Although such factors may be bad for many stocks, that isn't necessarily so for the garbage sector.

"Some businesses thrive on regulation, and one of those businesses is trash," said Cramer.

Cramer's picks are

Clean Harbors

( CLHB) and

Allied Waste Industries

( AW).

"Clean Harbors is an end-to-end hazardous-waste play," Cramer said. It has been able to pass through price increases recently, he explained. "That's because customers can't fight it."

He also adds that

Fidelity Investments

is buying Clean Harbors shares, which should help push the stock price higher.

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"Allied Waste is more boring; it's just a garbage company," said Cramer. "But it's one of best."

He explained that the company was caught in a virtuous circle of deleveraging. Because the company is using its strong cash flows to reduce its debt level, that improves cash flow and allows continued retiring of debt.

The Wages of Sin...

"Nice guys finish last," said Cramer. That's especially true when it comes to stocks.

So on "Mad Money," we are joining the Vice Squad, said Cramer, becase as he explained it, there is no room for socially responsible investing if you want to make money.

"You can't save the world if you don't have the resources," he said.

Cramer said he compared a portfolio of the stocks of the top 10 corporate citizens with that of the

Vice Fund

(VICEX) - Get Report

.

The "good guy" stock portfolio Cramer looked at consists of:

The Vice Fund consists of:

While the group of socially responsible stocks, as a whole, fell 4% over the past year, Cramer said, the vice-stocks group climbed 30%.

"From this empirical evidence, sin does pay," he said.

Lightning Round

Cramer was bullish on

TD Ameritrade

(AMTD) - Get Report

,

Goldman Sachs

(GS) - Get Report

,

Virgin Media

(VMED)

,

GlobalSantaFe

(GSF)

,

Six Flags

(SIX) - Get Report

,

Exxon Mobil

(XOM) - Get Report

,

Rite Aid

(RAD) - Get Report

and

Corning

(GLW) - Get Report

.

Cramer was bearish on

Qualcomm

(QCOM) - Get Report

,

Syntax-Brillian

( BRLC). and

Aqua America

(WTR) - Get Report

.

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

.

Want more Cramer? Check out Jim's rules and commandments for investing from his popular book by

clicking here

.

At the time of publication, Cramer was long Altria, Diageo and Goldman Sachs.

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