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Wells Fargo

(WFC) - Get Free Report

could survive the post-Bernanke world and head higher," said Jim Cramer on his "Mad Money" TV show Thursday. "It is the great speculative play that should prosper."

Down 300 points at its worst point of the day, today's market brought on a number of surprises. The most notable, after

Countrywide Financial's


news, said Cramer, was that investors came out of the woodwork to buy financially related stocks.

Cramer referred to these companies as "long-term beneficiaries" of Bernanke's standpoint but didn't regard all of them as safe investments.

Cramer explained to viewers that while many financial stocks were up as of closing, he did not have a strong feeling for the financial industry as a whole.

Washington Mutual

(WM) - Get Free Report

fell into SellSellSell territory.

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Bank of America

(BAC) - Get Free Report



(WB) - Get Free Report

did earn Cramer's brief but positive acknowledgment as potential winners.

Cramer does see big things ahead for

Wells Fargo

(WFC) - Get Free Report

. Calling it a stock for "when the smoke clears," Cramer said he believes it will "own the mortgage market" and be in better shape than its peers.

The company is known to offer a "great" dividend, and Cramer is a fan of its diversified holdings. He'd buy some "in a week or two" should the price fall into the $32 to $34 range.

Sell Block

In his "Sell Block" segment, Cramer rhetorically asked viewers if any of them sold "into the panic" today. Explaining why investors should not jump the second the market goes sour, he said that "nobody ever made a dime panicking."

Cramer referred to the mistakes he made during market low points in 1987 and 1998, insisting that this is "not the time to bail" and that investors must "stay the course."

Cramer urged investors to start to consider selling off minerals, believing that it is "better late than never" to do so. He also sensed trouble for the retail industry, emphasizing how consumer spending will be "crimped" by the recent actions of the

Federal Reserve


Cramer said that it's time to sell


(VMW) - Get Free Report

, coming off its soaring IPO.

H&R Block

(HRB) - Get Free Report


Capital One Financial

(COF) - Get Free Report


Friedman Billings Ramsey Group


were three financial companies he said should be avoided.

Cramer also wagged a finger at

Lamson & Sessions



Six Flags

(SIX) - Get Free Report

, which has been suffering from lower attendance due to the weather.

Cramer iterated that many are simply "waiting for the Federal Reserve to blink." In turn, we will continue to have "some up and some down" until the anticipated market disaster, he said.

In sum, he urged investors to focus on long-haul buys, rather than quick trades, as they will help to keep profitable portfolios.

Smoke Out

"Not every company with a high yield is a good yield," Cramer said about life in the "post-Bernanke, post-nuclear world." Furthermore, Cramer believes that "not all dividend payers are created equal." This has especially proven true, he said, when it comes to "protecting" your money.

Cramer acknowledged

KKR Financial



Thornburg Mortgage


as two of the higher-paying dividends out there.

However, such dividends tend not to be "worth it," because when "stocks go lower, yields go higher."

Instead, Cramer urged investors to consider buying companies that are raising their dividend. He recommended

Reynolds American


as a company paying a "nice dividend," at 5.5% yield -- even higher than that of


(MO) - Get Free Report

, which he owns for his charitable trust,

Action Alerts PLUS -- in addition to being a "smart play."

Cramer called Reynolds, the world's second-largest tobacco company, an "ideal stock in this environment" because "nothing is more defensive than cigarettes."

Mad Mail

In his first response in his "Mad Mail" segment, Cramer iterated that

Bear Stearns


should be avoided.

Next, Cramer told a mailer that he didn't like

Jones Soda


, adding that the stock's past ascent was "how to make a million" in the market.

Last, Cramer told investors to go toward tech stocks for their "great balance sheets and great products."


(GOOG) - Get Free Report

is safe, he said.

Lightning Round

Cramer was bullish on

Total System

(TSS) - Get Free Report



(CROX) - Get Free Report


Nastech Pharmaceutical



Eagle Bulk Shipping

(EGLE) - Get Free Report


General Maritime




(AAPL) - Get Free Report



(TEX) - Get Free Report


BioMarin Pharmaceutical

(BMRN) - Get Free Report


International Game Technology

(IGT) - Get Free Report


Cramer was bearish on







Acadia Pharmaceuticals

(ACAD) - Get Free Report


Knight Transportation

(KNX) - Get Free Report


WMS Industries

(WMS) - Get Free Report


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


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At the time of publication, Cramer was long International Game Technology and Altria.

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."

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