Commercial real estate is still hot and Vornado ( VNO) is the way to play it, Jim Cramer said on CNBC's "Stop Trading!" segment Friday.

Vornado, the real-estate investment trust run by Steve Roth, is benefiting from strong demand for office space among new businesses. "Not all real estate is created equal," says Cramer, who is less bullish on residential property. "Take a page from Vornado, they know what they're doing."

Among other stocks, Cramer called Bookham ( BKHM) a "quintessential fiber-optic play" that is levered to the same fundamentals that led to Ciena's ( CIEN) good quarter. "They have a really good quarter coming up, expectations are low, what's not to like?"

Cramer called Intel ( INTC), which issued a sales warning Friday, a "false tell" for tech and said investors should be buying Corning ( GLW), Marvell ( MRVL) and Broadcom ( BRCM).

In oil services, Cramer said Schlumberger's ( SLB) new high means peers like Nabors ( NBR) and Transocean ( RIG) are cheap. He urged caution on the supermajors, saying they're "just banks" with little hope of outperformance.

Asked about Alcoa ( AA), Cramer said he prefers steel makers like AK ( AKS) and Wheeling-Pittsburgh ( WPSI).

Finally, Cramer praised PW Eagle ( PWEI), which he said stands to benefit from government contracts.