Also making the shopping list, mortgage insurers such as Radian ( RDN) and Genworth Financial ( GNW), along with Hartford Financial ( HIG), an Action Alerts PLUS name.

Then there's tech, said Cramer, with Microsoft ( MSFT) trading at just 12 times earnings and EMC ( EMC) also seeing low valuations. In the auto group, Cramer said both Ford ( F) and General Motors ( GM) will be buoyed by a recovering Europe.

In still other sectors, Cramer liked ConocoPhillips ( COP) and Schlumberger ( SLB) in the oil patch, and US Airways ( LCC) as the "best in show" airline. He also remained bullish on Eaton ( ETN), General Electric ( GE) and Caterpillar ( CAT) among the industrial stocks.

Cramer 'Likes' Facebook's Call

Which company had the single best earnings call this quarter? Cramer said it was Facebook ( FB), another Action Alert holding and a company that saw a 38% jump in revenue this quarter.

Cramer said practically every metric that matters was sharply higher at Facebook, which is now seeing accelerating, not decelerating, revenue growth. He said the bear case against this stock is falling apart as the company is not only growing its mobile traffic, but monetizing it. All of these efforts, he said, will turn into huge profits once the company is done investing in its infrastructure and growth.

Just how big is mobile at Facebook? Cramer said it represented 0% of revenue when the company came public but it now tops out at 30%, a huge secular shift as people abandon desktop computers for tablets and smartphones.

Facebook plans to spend $1.8 billion on capital expenditures, noted Cramer, adding there simply aren't many stocks like Facebook out there. With that, shares are only up 6% for the year and trade at 36 times earnings estimates, which are far too low.

Cramer was also bullish on LinkedIn ( LNKD), a company he said will also flourish over the longer term once investors stop focusing on present day shortfalls.

Lightning Round

In the Lightning Round, Cramer was bullish on Pennsylvania Real Estate Investment ( PEI).

Cramer was bearish on Potash ( POT)

Mad Mail

In the "Mad Mail" viewer feedback segment, Cramer followed up on some stocks that stumped him during earlier shows.

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