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"Today my mission is to find you a newer, cheaper, better way to play the CNBC Million Dollar Portfolio Challenge," Jim Cramer told viewers of his "Mad Money" TV show Friday.

Golden Star Resources ( GSS - Get Report), he said, is his "new favorite way" to play the stock-picking game.

Golden Star is a $4.46 stock for which Cramer urged people to use limit orders if they decide to buy it. The gold-mining company operates in West Africa and South America, and for that reason it's quite speculative, he said. However, Golden Star also has a big mine in Ghana, "an island of stability," making it slightly less speculative.

Also in Ghana, Golden Star is building a new sulfide-processing plant, which analysts are worried about, Cramer said. The skeptics are standing in the wings, giving market players an opportunity to buy.

Cramer said he's speculating that Golden Star's management might announce the opening of its new plant sooner than expected, which in turn should cause analysts to revise their estimates. "As revisions go up, the numbers should go up as well," Cramer said. The plant, he believes, should double Golden Star's gold production and decrease its costs.

The gold miner reports its quarterly results on May 10, just before the CNBC stock-picking game is set to end, Cramer said. A solid quarterly report should push Golden Star's stock price higher.

But whether or not people are playing the game, Cramer believes Golden Star is a good takeover target. Plus, because Golden Star is a gold miner, gold prices are moving the stock up, as well.

However, Cramer warned investors to think about the risks before buying Golden Star as it is a very speculative stock. He said he's not telling people to swap out of Yamana Gold ( AUY), but for the love of the game or a real profit, they should consider buying Golden Star.

Laser Tag: Cynosure

"On 'Mad Money' we love lasers ... because they're sexy, speculative and they make people money fast, which is perfect for Speculation Friday," Cramer told viewers.

On last Friday's show, Cramer recommended people buy Ionatron ( IOTN), which has since landed a U.S. military contract and moved 17% higher.

Looking back, Cramer said he has changed his favorite laser stock many times. Lately he has been going back and forth on Palomar Medical Technologies and Syneron Medical ( ELOS)

The last time he talked about laser cosmetics stocks, Cramer said he crowned Syneron "the czar of lasers." Now Cynosure ( CYNO) has the throne, at least until something else comes along that's better in the "unpredictable" laser industry, he said. For now, Cynosure is Cramer's best-of-breed laser play.

Since he advised buying Syneron, the stock hasn't done anything. Meanwhile, Cynosure has doubled, he said.

"In order to be the laser king you need momentum," Cramer said. Cynosure has 30% growth and is "Mr. Mojo Rising." Plus, it has room to improve, something a laser king needs, and it's levered to the rest of the world, he said.

Moreover, Cynosure's estimates have gone up. Cramer said he would rather take "a performer that's pricey rather than an underperformer that's cheap."

He named Palomar his No. 2 laser stock, but pointed out that it is more expensive than Cynosure. Cramer said he would stand behind Syneron too, but he doesn't see it making any mad money anytime soon.

Cramer's Game Plan

During the show's "Game Plan" segment, during which Cramer offers his ideas for the coming week, he advised viewers to keep an eye on the infrastructure plays.

Fluor ( FLR), McDermott International ( MDR) and Foster Wheeler ( FWLT) are three "terrific" infrastructure plays that report next week, he said. With oil prices high, these are stocks people should consider.

He suggested market players buy half their positions of Fluor, McDermott or Foster Wheeler before they report their respective quarters and then buy the other half after the companies report. "Be prepared to buy on any weakness," Cramer said.

On Tuesday, CVS/Caremark ( CVS - Get Report) reports. This is a company that "has vaulted itself even further into the health care heaven" because it bought Caremark on the cheap, he said, advising people to get into CVS ahead of when it reports.

Cramer said he likes Dynegy ( DYN), which also reports Tuesday, on earnings.

Because of the fact that Nabors ( NBR) and Halliburton ( HAL), which he owns for his charitable trust, Action Alerts PLUS, have been hinting at their respective expansions, Cramer suggested viewers consider picking up Parker Drilling ( PKD). Parker, which reports Tuesday, could be acquired by either of the companies, Cramer speculated.

Jumping back to Monday, Cramer advised investors to also get into Forest Oil ( FST) before it reports after the market close.

For Wednesday, Cramer recommended people look at and consider getting into L-1 Identity Solutions , Precision Castparts ( PCP) and Six Flags ( SIX).

And finally, he told market players to get into Syntax-Brillian before it reports after the market close Thursday, because as it is clear the LCD TV sector is doing well.

Tool Time With Black & Decker

Cramer welcomed Black & Decker CEO Nolan Archibald and asked him how his company was able to report such a great quarter.

Archibald said he believes Black & Decker reported good numbers because it's got "great brands and innovative products," both of which sell well in down markets. He said that although the company has been cautious given the economy, Black & Decker is doing "fairy well."

When Cramer asked the chief executive specifically which products he was talking about, Archibald said the company has introduced a bunch of new Dewalt brand products all the way from a concrete breaker, to a new line of hammers and generators.

Archibald also commented that Black & Decker plans to continue buying back its shares. "We think it's a great buy," he said.

Cramer called the stock "the real deal" and said it is headed right through $100. Black & Decker closed at $92.36 Friday.

Lightning Round

Cramer was bullish on IntercontinentalExchange ( ICE), Chicago Mercantile Exchange ( CME), CBOT Holdings , Ciena ( CIEN), Tellabs , Progressive ( PGR), Prudential ( PRU), MetLife ( MET), United Online ( UNTD), Sears ( SHLD), American Capital ( ACAS), Public Service Enterprise ( PEG), Exelon ( EXC), Duke Energy ( DUK), Consolidated Edison , Energy Metals ( EMU), Hewlett-Packard ( HPQ), Bank of New York ( BK) and Amgen ( AMGN).

Cramer was bearish on IPG Photonics , FoxHollow Technologies ( FOXH) and Atmel ( ATML).

For more of Cramer's insights during the most recent 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 Halliburton, Hewlett-Packard and Sears Holdings.

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."

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