Click here for an archive of Cramer's "Mad Money" recaps.

Jim Cramer launched Friday's "Mad Money" TV show by offering viewers two speculative stocks to research over the weekend -- a promising medical diagnostics play and an under-$10 technology name.

Cramer's first pick,

Biosite

( BSTE), is the type of company market players should want to be in if the Democrats "storm the winter palace" in November, he said, "because then all the Big Pharma money will go into acquiring small diagnostics plays."

"We need to find new diagnostics stocks" as the older ones get played out, Cramer continued, and right now Biosite is looking "hot." The company makes rapid diagnostic tests -- products that help the doctors do their jobs more quickly and efficiently, he said.

These tests save people a lot of money by figuring out early what needs to be done, Cramer said. But Biosite is truly a "pipeline story," continually reinvesting its money to create new products, he said.

The reason Cramer said he's talking about Biosite now is because "it's sitting on top of a new product cycle," which should create major upside for the stock. In addition, although only four analysts are covering Biosite right now, he believes it should get more and better coverage as it rolls out its new products.

Plus, the stock has a major short position, which could very likely create a short squeeze and cause the stock to bounce, Cramer said. The shorts, he said, are attacking Biosite and will be penalized for it.

Moreover, in addition to having the product cycle, backing of its own management and smart money, factors that make Cramer believe Biosite is a buy, it also has had "meaningful buybacks."

Sun Will Rise Again

Image placeholder title

Cramer's second speculative pick,

Sun Microsystems

(SUNW) - Get Report

, is a company he has "hated for a very long time."

However, because new management is "shaking things up" at Sun Micro, Cramer believes the stock is an "under-$10 turnaround."

At the same time, he warned viewers against acting too fast and paying too much for the stock. Be careful and look for a good entry point, Cramer said, adding that he sees two points of upside for this stock only if people play by his rules and wait until at least Monday afternoon to buy it.

Although Sun Micro has been a "loser," the turnaround here is real at last, he said. First, the company is cutting costs, which means higher margins, and its product sales are growing, Cramer said.

Plus, it "has a lot of upgrade potential," with a server business that's "en fuego" and a "strong" software business, he said, advising people to buy it patiently and carefully with limit orders.

Cramer's Game Plan

According to his game plan for next week, Cramer believes people should consider buying

GlobalSantaFe

(GSF)

ahead of when it reports on Monday, because he believes it will have a "blowout quarter."

However, he expects that

Marvell Technology

(MRVL) - Get Report

, which he owns for his

Action Alerts PLUS charitable trust, will report a bad quarter after market close on Monday. Cramer advised viewers to buy Marvell after it gets hit on Monday, because

Analog Devices

(ADI) - Get Report

said earlier this week that there could be a bottom in the chip inventory cycle, which means the negativity for Marvell should subside.

On Tuesday,

Blockbuster

( BBI) reports, and Cramer recommends market players sell a little before it reports, wait for everyone to take their profits in the stock and then buy some back.

Similarly, he told people to sell a little

Dynegy

(DYN)

before it reports Tuesday and buy it again after everyone has left it and taken profits.

Cramer suggested people take a look at and consider buying

Foster Wheeler

(FWLT)

and

McDermott

(MDR) - Get Report

, both of which he believes will report "solid earnings."

Further, he told people to buy

Charter Communications

(CHTR) - Get Report

before it reports and to only buy some

Sprint

(S) - Get Report

after it reports if it has an "incredibly miserable" quarter.

Other companies that report in the latter half of next week that Cramer considers good buys are

Gap

(GPS) - Get Report

,

Viacom

(VIA.B)

and

VeriFone

(PAY)

.

Mad Mail

In the show's "Mad Mail" segment, in response to a viewer who wrote in, Cramer said that he believes it's better to buy the stronger company, like

Sirius Satellite Radio

(SIRI) - Get Report

, rather than the weaker company, like

XM Satellite Radio

( XMSR), in an anticompetitive merger, because whether or not the deal goes through, the former should go up.

Lightning Round

Cramer was bullish on

Suncor Energy

(SU) - Get Report

,

EnCana

(ECA) - Get Report

,

Verizon

(VZ) - Get Report

,

AT&T

(T) - Get Report

,

Hewlett-Packard

(HPQ) - Get Report

,

Vasco Data

(VDSI)

,

Devon Energy

(DVN) - Get Report

,

Arch Coal

(ACI) - Get Report

,

Peabody

(BTU) - Get Report

,

General Maritime

(GMR)

,

Prudential

(PRU) - Get Report

and

Quest Diagnostics

(DGX) - Get Report

.

Cramer was bearish on

Oilsands Quest

( BQI),

Cellcom Israel

(CEL) - Get Report

,

Sprint

(S) - Get Report

,

Petrohawk Energy

(HAWK)

,

Frontline

(FRO) - Get Report

and

Tronox

(TRX) - 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 Hewlett-Packard, Marvell Technology and Quest Diagnostics.

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.