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NEW YORK ( TheStreet) -- Quoting Sir Isaac Newton, Jim Cramer told the viewers of his "Mad Money" TV show Friday that "what goes up, must come down."

He said every stock, good and bad, traded lower in lock step today, but the good news is "we will get over it."

Cramer said the markets name seem schizophrenic, with giant up days followed by giant down one, but in actuality, it makes perfect sense. He said the markets simply ran to far, too fast, and it's unrealistic to think they'd just keep on going forever. Looking at things objectively, Cramer said the markets just gave back most of their gains from the seven-day rally, nothing more.

But despite the market's miserable action today, Cramer said the week was still filled with good things, like the strengthening euro, which will help earnings of U.S. companies, and financial reforms were finally passed into law, ending months of nervous speculation. And of course, there was the capping of the Gulf oil spill which, at least for the moment, puts an end to that crisis as well, hesaid.

Cramer still advised investors to use extreme caution when investing in this market. He said that while things are getting better, and not worse, the markets are still likely to have big swings like we saw today. Eventually, he said, the naysayers will go too far though, and when stocks get oversold, it will be time to start buying again.

Next Week's Game Plan

For next week's trading, Cramer told viewers that they should be listening to, but not trading, several key conference calls as earnings season gets underway. Why no trading? It's because trading during earnings season is a fool's game, and he can prove it, he said.

Cramer unveiled his personal "Box o' Trading Losses" from his days at his hedge fund. He explained that every time he experienced a loss greater than $10,000, he put it in the box, then reviewed it later to look for patterns. What did the box reveal? That information comes too quickly during earnings, and it's impossible to keep up and get it right.

So rather than trading, Cramer said he'll be listening to IBM's ( IBM) conference call on Monday to see if he should buy more Accenture ( ACN) for his charitable trust, Action Alerts PLUS.

On Tuesday, Cramer said Pepsico ( PEP) will provide a read on consumer stocks, while United Technologies ( UTX) will show how the world's economies are doing on Wednesday. "These companies do the research for you," he explained.

On Thursday, Cramer said that Caterpillar ( CAT) is the call to listen to, as they provide guidance on the infrastructure and mining industries, as well as a world view on housing, stimulus and more.

Then on Friday, there's Schlumberger ( SLB), the perfect company for a read on oil for the second half of the year, as well as an expert take on BP's ( BP) handling of the oil spill.

Finally, Cramer said he'll be listening to both AT&T ( T) on Thursday and Verizon ( VZ) on Friday for the latest take on the smartphone wars.

Steel Maker Rebounds

Concluding his "Biggest Loser" series of beaten down stocks poised to turn around in the second half of 2010, Cramer highlighted AK Steel ( AKS), a much hated steel maker whose shares have fallen 37% so far this year.

Cramer said he's historically panned AK Steel because the company is not vertically integrated, leaving it vulnerable to higher iron-ore prices, and because it hasn't been a big international player, leaving it susceptible to the lagging U.S. economy. Cramer said he's also been wary of the company's balance sheet, which has been ballooning with legacy costs.

But as the facts change, Cramer said he changes his mind, which is precisely what happened with AK Steel. He cautioned that the company is likely to report a disappointing quarter on July 27, but after that, things start looking a lot rosier for the company.

Cramer explained that AK Steel has reduced its headcount by 30%, while still maintaining its output, and has reduced its legacy costs from $40 per ton produced to just $7 per ton, a huge improvement. The company also used $2 billion of internal cash to help sure up its balance sheet, all while maintaining its 1.5% dividend.

Additionally, with iron-ore prices plummeting, Cramer said margins will be improving for AK, and with the economy recovering, demand should also swing in the company's favor. He said with the stock already down big on the year, there's not much downside risk left, but the upside just got a lot more enticing.

Blowout Quarter

In the "Executive Decision" segment, Cramer spoke with Chuck Bunch, chairman and CEO of PPG Industries ( PPG), which just delivered what Cramer characterized as a blowout quarter.

Bunch said that PPG is taking full advantage of opportunities around the globe, which is why 60% of the company's revenue and earnings now come from outside America. He said the company has been aggressive in Europe and Latin America, and is strong in China and the Asia Pacific region.

Among the bright spots for the company are industrial coatings, said Bunch, primarily automotive coatings. He said that Chinese demand was up 40% for PPG, and the company is proud to be No. 1 in what's become the world's largest auto-producing market.

When asked about Europe, Bunch admitted that sales have been soft, but he noted that there too, industrial coatings are beginning to rebound, up 3% for the quarter. Bunch said that much of the "doom and gloom" surrounding Europe has been overdone in his opinion, and PPG was able to deliver a solid performance.

Overall, Bunch said that PPG management doesn't see anything bad for the upcoming quarter. He said the momentum is there and he expects PPG to once again perform well. Cramer agreed, and continued his endorsement of PPG.

Lightning Round

Cramer was bullish on Skechers USA ( SKX), Cubic ( CUB), Chesapeake Energy ( CHK)and VMware ( VMW).

-- Written by Scott Rutt in Washington D.C.

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC .

Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by clicking here.

For more of Cramer's insights during the Lightning Round, clickhere .

At the time of publication, Cramer was long Accenture.

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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, 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, 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 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, 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.

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