Click here for an archive of Jim Cramer's Mad Money recaps. Click here to get Jim Cramer 's Mad Money Post Game video exclusively on TheStreet.com.


"We need to get rid of the worry-warts in this market," Jim Cramer told the viewers of "Mad Money" TV show Wednesday.

He said that being worried about every potential problem and its opposite is not a sound financial strategy. He said there is a solution for every problem.

Cramer said with so many worried about the banks, he'd buy the strongest of them, namely JPMorgan Chase ( JPM - Get Report) and Goldman Sachs ( GS - Get Report), two stocks which he owns for his charitable trust, Action Alerts PLUS.

Cramer Clearing House All things Cramer Mad Money Recap Trade With Cramer Free

With so many people worried about rising gas prices, Cramer said Transocean ( RIG - Get Report), Schlumberger ( SLB - Get Report) and Occidental Petroleum ( OXY - Get Report) are the ways to play that trend.

Cramer said with low interest rates and a new homebuyer tax credit, strong regional banks like FirstMerit ( FMER is a great stock.

According to Cramer, it's not wrong to worry. But he wondered what's the point when so many others are already doing the worrying for you. Cramer said his real worry in this market is not taking profits, and turning those profits into losses.

"Leave the worrying to the worry-warts," said Cramer.

Technology Pullback

"This pullback in technology is nothing less than a screaming buy opportunity," Cramer told viewers.

He said the bottom in the tech market is upon us, and with mutuals funds flush with cash, technology will continue to roar higher.

Just last week, Cramer recommended Tessera Technologies ( TSRA, a small, speculative name, which is now up 34%. Cramer said investors are being greedy if they don't take profits in this name.

Cramer's other speculative tech stocks, which included Tekelec ( TKLC, Brocade ( BRCD, Cadence Design Systems ( CDNS and ON Semiconductor ( ONNN, are up an average of 11.9% during a time when the NASDAQ was up only 3.5%. These stocks, said Cramer, are still buys.

Replacing Tessera in the mix, Cramer recommended semiconductor testing equipment maker Teradyne ( TER.

According to Cramer, business has been bad for so long in the semiconductor testing business that there are only a few survivors left in the market. Teradyne now commands a 40% market share.

Cramer said Teradyne hasn't been wasting any time. The company cut $190 million from its operations, and is expanding into both flash-memory and hard-drive testing markets. The company is leaner and meaner, and is poised to deliver upside surprises to Wall Street, he said.

Wall of Shame

Cramer added Willian Klesse, CEO of Valero ( VLO, to his Wall Of Shame list of the worst CEOs.

He said that in a quarter where everything should have been going in the company's favor, Klesse turned what was supposed to be 73 cents a share of earnings into a 50-cent-a-share loss.

To make things even worse, Cramer noted that after buying back 141 million shares of its own stock at between $68 and $41 a share from 2006 to 2008, Klesse today announced a huge secondary offering of new shares at just $18 a share.

Taking cues from viewers, Cramer is also considering adding the CEOs of DryShips ( DRYS, Eastman Kodak ( EK and Textron ( TXT to the Wall Of Shame as well for their horrific performance at these companies.

Am I Diversified?

Cramer talked with callers about their portfolios to determine if they have what it takes. The first caller's portfolio included Research In Motion ( RIMM, Watsco ( WSO, ConocoPhillips ( COP, El Dorado Gold ( EGO and Pepsico ( PEP.

Cramer said this portfolio was perfectly diversified.

The second caller's top holdings included Ingersoll-Rand ( IR, Eli Lily ( LLY, Charles Schwab ( SCHW, Ultra Petroleum ( UPL and Verizon ( VZ.

Cramer said he was thrilled with this portfolio.

The third caller had Tidewiter ( TDW, Diageo ( DEO, PartnerRe ( PRE, Overseas Shipholding ( OSG and Total ( TOT as their top five stocks.

Cramer said this portfolio needed serious work with four of a kind dealing with oil. He recommended rebuilding this portfolio from scratch.

The fourth caller's top stocks were Kinder Morgan Partners ( KMP, Kimberly Clark ( KMB, 99 Cents Only Stores ( NDN, Becton Dickinson ( BDX and Linn Energy ( LINE.

Cramer said Kinder Morgan and Linn Energy were two of a kind. He recommended selling Linn Energy in favor of a financial like JPMorgan Chase ( JPM - Get Report)

Lightning Round

Cramer was bullish on First Solar ( FSLR, Visa ( V, Tellabs ( TLAB and KBR Inc ( KBR.

He was bearish on Suntech Power ( STP, Monsanto ( MON, Cameco ( CCJ, Tenneco ( TEN and Shaw Group ( SGR.

Check out the latest edition of "Cramer's Take onTop-Searched Stocks" on Stockpickr.

Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

Read more of Cramer's Mad Money Lightning Round insights.

For "Mad Money" performance statistics and other links, check out Mad Money stats

At the time of publication, Cramer was long JPMorgan Chase, Goldman Sachs, Pepsico, ConocoPhillips, Ingersoll-Rand.

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.