Although the mention of Vonage (VG) - Get Report makes Jim Cramer "disapprovingly shake his head," its dud of an IPO created a good situation for MasterCard (MA) - Get Report, he said on his "RealMoney" radio show Friday.

On May 24, Vonage went public with "one of the most disastrous IPOs" Cramer said he's ever seen. On that day, the stock, which was priced at $17, closed down more than 12%, he said.

Right after that, MasterCard went public and should have been priced in the $50s, but instead was priced in the $40s "because the sentiment over the Vonage IPO was so negative," Cramer said.

"After Vonage killed the market, the investment bankers felt they ought to move the price of MasterCard much lower," he said. "And today the stock hit $61."

There is no place people can make this kind of money other than the stock market, Cramer said. But now he believes MasterCard has gotten too pricey, and

American Express

(AXP) - Get Report

has become "way too cheap."

It's time to sell MasterCard and buy American Express, Cramer said.

Apple Shines

"

Apple

(AAPL) - Get Report

is one of the single best stocks in the market right now and is not nearly done going up," Cramer said.

This company is "an absolute situation," as its expectations got really low and business got really good, he said.

He believes Apple is going to continue to go up and suggested people to pick some up.When a manufacturer has too much inventory, it scales back, makes less product and cuts prices on existing inventory, which is exactly what's going on in the housing sector right now, Jim Cramer said on his

"RealMoney" radio show Friday.

Homeward Bound

The homebuilding industry is trying to correct a glut it did not see last year, Cramer said.

Last week, when he was in California, Cramer saw "one of the hottest housing markets" and "some amazing deals," he said. "That's the business trying to sort itself out back into a proper supply and demand balance."

Even then, Cramer emphasized that he is not a fan of housing stocks yet. Instead, he is waiting for a turning point in the sector.

"You can't buy these stocks until you get a

Fed

rate cut," he said,

When that happens, Cramer said he will recommend housing stocks. However, the sentiment right now is that the Fed is in a "maybe we're not done raising" mode, he said.

"There are stocks out there that scream, 'Hey! Look at me,'" Cramer said. "These are the ones that report bad numbers, but still don't go down."

This is what happened with

Ford

(F) - Get Report

, a company that had a big shortfall, but did not experience a decline in its stock price, he said. "That says bottom."

On the Borders

Another stock in which this is also happening -- and it's not too late for market-players to take action on -- is

Borders

(BGP)

.

Although there are "a lot of things wrong with Borders," including a battle with

Barnes & Noble

(BKS) - Get Report

and

Amazon

(AMZN) - Get Report

, it's been losing, Cramer believes the stock could turn around.

Not only did Borders' stock not move when it reported "a horrible quarter," but in addition, Credit Suisse analyst Gary Balter, whom Cramer called "a moneymaker," likes Borders CEO George Jones.

There is "a monster short position" on Borders, but "it should succeed because the expectations are low, and CEO Jones has some terrific ideas about how to turn things around," Cramer said.

Cramer said he would wait for a pullback and pick some up.

Waiting on Boeing

"The airline cycle is alive and well," Jim Cramer told a caller who asked about

Boeing

(BA) - Get Report

on his

"RealMoney" radio show Friday.

Cramer predicted Boeing, which has dropped from $86 to $72, will make a stand at $70. That's the level to buy it at, but not before then, Cramer said.

He told the next caller he considers

Aetna

(AET)

worst of breed, as the company keeps missing its estimates.

On the other hand,

UnitedHealth Group

(UNH) - Get Report

, which Cramer owns for his charitable trust,

Action Alerts PLUS, and is selling at one times its growth rate, "is the way to play this group," he said.

Although UnitedHealth's CEO is in the middle of a backdating scandal, Cramer believes the CEO "will be vindicated."

"I would sell Aetna very hard here because it's going from $36 to $30," he predicted.

Responding to his next caller, Cramer said he "likes

Ecolab

(ECL) - Get Report

very much," as the company provides services, such as pesticide control, that people pay for regardless of the economic situation.

He advised anther caller to stay away from

Gemstar

(GMST)

, calling it "a serial disappointer."

When a listener called in from Taiwan inquiring about

Chesapeake Energy

(CHK) - Get Report

, Cramer said "no one cares that

natural gas stocks are cheap," even though he, himself, owns some natural gas for his charitable trust.

"I have trimmed back my oil holdings but I don't want to give up everything, because the world is a dangerous place and oil a good hedge against that danger," he said.

However, Cramer said he doesn't want to own Chesapeake right now, as he doesn't see a bottom in the group. He said "oil is in free fall" and compared it to "falling knives." Instead, Cramer said he prefers food and beverage stocks, financials and tech stocks more.

At the time of publication, Cramer was long UnitedHealth Group.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.