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The "ultimate speculative stock" for a stock-picking contest like


Million Dollar Portfolio Challenge is



, Jim Cramer told viewers of his "Mad Money" TV show Friday.

Cramer, who got the stock idea from a

recommendation, believes Ionatron isn't just a good pick for the game, it could also work if people need to fill a speculation hole in their


Ionatron makes directed-energy weapons, which, Cramer said, translates into lasers. The company uses a technology called laser-induced plasma channel (LIPC), and its lasers come in lethal and non-lethal form.

Cramer likes Ionatron as a speculative play because the company could soon win a huge contract from the U.S. military for its IED Neutralizer, an LIPC device that is used to safely detonate improvised explosive devices, or IEDs. The military has been spending billions on mine-resistant vehicles, which is why Cramer has advised buying

Spartan Motors

(SPAR) - Get Free Report

in the past.

Last May Ionatron fell from $14 to $5 because it didn't get a military contract. The stock has been sitting at $5 ever since, Cramer said. Now the company is back, and he believes it's possible that Ionatron is going to get a military deal.

"I'm speculating that Ionatron will get the contract this time," he said. "If it gets the contract, I have little doubt that it will move the needle and the shorts will get squeezed."

The stock is "risky," but for those people who are participating in stock-picking contests


Portfolio Challenge, the downside doesn't matter as much, which makes it perfect for the game, Cramer said. And, he said, it could be even better with real money for a speculative pick.

Small Penn's Might

As part of his weeklong

private equity target series, Cramer has recommended the following as possible private equity targets that people should consider buying:

The next stock to get taken out by private equity money and pay a big premium to its shareholders might very well be

Penn National Gaming

(PENN) - Get Free Report

, Cramer told viewers.

All of these companies, he said, have a lot of cash flow with problems that can be fixed easily. And they are all on Goldman Sach's suggested private equity buy list, Cramer added.

Penn is in the gaming industry and is making a lot of money. It gives people the ability to "foolishly" flush their hard-earned money down the drain, he said. However, market players know the private equity guys are interested in this sector since

Harrah's Entertainment

( HET) got taken out, Cramer said.

Compared to Harrah's, Penn is small, which makes it a great target. Plus, it is driven by new projects -- casinos that are being put up in areas "where there's nothing else to do," he said. It has low risk and high returns, but private equity firms could increase the returns here.

In addition, Penn, on its own, is worth owning as well, Cramer said. "It could make you over 30% if you play your cards right."

Next Week's Game Plan

The rule for next week is to stick with the winners before they report, Cramer told viewers during the shows "Game Plan" segment, in which he gives ideas for the coming week.

Vulcan Materials

(VMC) - Get Free Report

reports Monday, and Cramer believes it still has room to run.

Avon Products

(AVP) - Get Free Report

, which reports Tuesday, should "hit a home run" and "give us the gains we're looking for," Cramer said.

Also reporting Tuesday are




Procter & Gamble

(PG) - Get Free Report


MedcoHealth Solutions



General Cable


, all of which should go higher, he said.

Cramer called MedcoHealth "a stock for all seasons" and said P&G has been stalled enough and should now be ready "to join the ranks of


(KO) - Get Free Report



(PEP) - Get Free Report


Moreover, Cramer advised that people consider Quest as a not only for their real portfolios but also as a good way to play the


Portfolio Challenge.

Further, Cramer said he likes restaurant chains

Chipotle Mexican Grill

(CMG) - Get Free Report


Buffalo Wild Wings


, both of which report Tuesday, as well.

He told viewers to consider getting into


(AGN) - Get Free Report

, the maker of wrinkle remedies Botox and Juviderm, ahead of its report on Wednesday.

Image placeholder title

Cramer advised people to let


(RIG) - Get Free Report

, a stock he owns for his

Action Alerts PLUS charitable trust, to come in because of profit-taking, but said he is not getting rid of it yet.

Also on Wednesday, take a look at the rails,

Trinity Industries

(TRN) - Get Free Report


American Railcar Industries

(ARII) - Get Free Report

, Cramer said.

Even though


(ANDE) - Get Free Report

is heavily shorted, Cramer advised people to go long the stock, not short it.

On Thursday,


(CELG) - Get Free Report

should run, he said, and

Charter Communications

(CHTR) - Get Free Report

looks "interesting."

Charter has seen some upside, he said, so sell it before its quarter and then buy it back after it reports.

Cramer called

Estee Lauder

(EL) - Get Free Report

, which also reports Thursday, "the quintessential weak dollar play" and told people to also consider


(KBR) - Get Free Report

, which reports Friday.

"Next week is full of great stocks," he said. "The hardest part is to figure out which stocks to single out."

Mad Mail and Sudden Death

In the show's "Mad Mail" segment, Cramer told a viewer he feels great about


(CMI) - Get Free Report

and congratulated everyone who pulled the trigger on it. "We really nailed that one," he said.

Lightning Round

Cramer was bullish on

Tata Motors

(TTM) - Get Free Report



(CIEN) - Get Free Report



(GLW) - Get Free Report



(SYK) - Get Free Report





Goldman Sachs

(GS) - Get Free Report


FuelCell Energy

(FCEL) - Get Free Report


Yamana Gold

(AUY) - Get Free Report


Kinross Gold

(KGC) - Get Free Report


Cramer was bearish on

JDS Uniphase






U.S. Global Investors

(GROW) - Get Free Report





Micron Technology

(MU) - Get Free Report


For more of Cramer's insights during the most recent 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 Caterpillar, Goldman Sachs and Transocean.

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.