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NEW YORK (

TheStreet

) -- "Be cautious, but don't miss out on opportunities," Jim Cramer told the viewers of his

"Mad Money"

TV show Friday, as he laid out his game plan for next week's trading.

He said next week might yield another 2% to 3% slide in the markets, but that doesn't mean there aren't great stocks to be bought.

Topping the headlines next week will be the IPO of General Motors, said Cramer, who urged investors to get in on the IPO if they can, but avoid the stock in the open market afterwards.

Cramer said the better stock, and the better company, is rival

Ford

(F) - Get Report

. Ford is hands down the better company, and once GM's valuation becomes apparent, Ford will look all the better, he said.

Cramer said he'll also be watching other stocks next week, like

Nordstrom

(JWN) - Get Report

and

Urban Outfitters

(URBN) - Get Report

. Nordstrom, he said, should deliver terrific results, but Urban is too dangerous to own at current levels and is only attractive under $30.

Also on the radar,

TJX Stores

(TJX) - Get Report

, purveyors of the TJ Maxx and Marshall's chain. Cramer said should post solid earnings, as should

Netapp

(NTAP) - Get Report

in the tech space.

Cramer said he'd be a buyer of

Salesforce.com

(CRM) - Get Report

next week, but only if the stock gets hit after it reports earnings. Finally on Friday, Cramer said

Yingli Green Energy

(YGE)

will offer a read on alternative energy, but he would not be a buyer.

Stellar Biotech Story

In the "Executive Decision" segment, Cramer spoke with Bob Hugin, CEO of

Celgene

(CELG) - Get Report

, a company Cramer called "the best biotech story in the world."

Hugin said that Celgene's performance has been strong on many fronts, including market share gains, patients staying on the company's treatments longer, and expansions into new geographic markets. Hugin also noted that Celgene has 25 phase three trials underway, ensuring sustainable mid- and long-term growth for the company.

Hugin noted that for drugs like Revlimid, the company's blood cancer treatment, growth has been data driven, and as more patients are seeing results, even more patients will want to begin treatment. He said Celgene's acquisition of Abraxane BioSciences has given the company promising treatments for solid cancer tumors, and those phase three trials are underway all over the globe.

Celgene also has drugs in the works for psoriasis, which Hugin said should finish trials by the end of 2011 and offer solid data by 2012. Hugin said Celgene is offering drugs that make a meaningful difference in patients' lives, and with good impacts come good returns.

Cramer congratulated Hugin on a job well done and reiterated his buy recommendation on the stock.

Too Cheap to Resist

For "Speculation Friday," Cramer said that

Motorola

(MOT)

, a stock he's hated for many years, has now become too cheap to resist.

Cramer said that Motorola has become a situation where the sum is worth less than its parts, which is exactly why the company is planning on spinning of it's mobile phone and cable set-top box divisions under a new entity called Motorola Mobility.

The new company will have $3.5 billion in cash, no debt and will be an instant contender in the mobile phone market thanks to its successful bet on

Google

's

(GOOG) - Get Report

Android operating system.

Cramer said Motorola "lucked out" by betting on Android, now the world's fastest growing mobile OS. Combine that growth with with devices that can interact with a new generation of Motorola cable set top boxes, and Cramer said you've got a winner.

Motorola is also regaining share internationally, focusing on Europe and Latin America, along with China, where the company's share has dwindled from 26% to just 2% over the past few years.

Cramer said there are still plenty of worries surrounding Motorola, but he feels all of those worries are already baked into the stock. He said that Motorola's remaining enterprise businesses, which won't be part of Motorola Mobility, may also be an attractive takeover target.

Trading at just 12 times earnings, Cramer said he'd start a position now, and buy more on any weakness, while waiting for the Mobility spinoff.

Best of Breed

Cramer said when it comes to difficult to understand sectors, it always pays to stick with best of breed. Such is the case with mortgage real estate investment trusts, companies that offer monster dividends, but little transparency.

Cramer said he's received questions about companies like

Invesco Mortgage Capital

(IVR) - Get Report

and

Walter Investment Management

(WAC)

recently, but was unable to analyze them well enough to feel good about recommending them.

Cramer said the problem is that there is no transparency as to which securities these companies own, and that makes them nearly impossible to judge. He said in this situation, he's reverting to

Annaly Capital Management

(NLY) - Get Report

, and its CEO Mike Ferrell. Cramer said Annaly has paid out dividends for a long time and has better management than other firms. Annaly has also weathered the recession better than most, he said.

Cramer said while in the short term, companies like Invesco or Walter may offer better returns, Annaly is the safest choice in a tough neighborhood.

Lightning Round

Cramer was bullish on

Deckers Outdoor

(DECK) - Get Report

,

Las Vegas Sands

(LVS) - Get Report

,

Wynn Resorts

(WYNN) - Get Report

,

MGM Mirage

(MGM) - Get Report

,

Devon Energy

(DVN) - Get Report

,

EMC

(EMC)

and

Alcoa

(AA) - Get Report

.

He was bearish on

Saks

(SKS)

,

International Game Technology

(IGT) - Get Report

,

BP

(BP) - Get Report

and

Emulex

(ELX)

.

Closing Comments

Cramer railed against a recent article with a headline that said, "Home prices decline in half the country." Cramer said the article noted that while 76 of 155 areas surveyed did decline in value, 77 of the areas rose in value. He said this negative bias and double speak is exactly what's wrong with the markets.

The same article cited the expiration of the federal tax credit as weighing on the markets, while noting that the average home price has stabilized. Cramer said he's sick and tired of articles like this one. He said the same negative pundits predicted the end of the car market after "Cash for Clunkers" last year, and auto sales are now clearly on the rebound.

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

To contact the writer of this article, click here:

Scott Rutt

.

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.

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.

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

.

Want more Cramer? Check out Jim's rules and commandments for investing 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 not long any stock mentioned.

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.