Cramer recently broke down the situation in the following post. “I am not being forceful enough on Nucor (NUE). When the best steel company in the world -- sorry, U.S. Steel (X), I love you, but NUE has been run well since Day One, and X has only been run well since John Surma got in -- prices a deal way in the hole and then it goes down from there, before rallying back over the print price yesterday (the price of the secondary of 25 million shares) and once again dipping below it, well, that's opportunity. That's XTO (XTO) at $55. That's Freeport (FCX) in the $60s -- two in-the-hole secondaries that got back above the print price and then went crazy to the upside. That's the pattern of greatness out three months, even if it is a recipe of pain out three days. Think about it. Everyone who wants NUE has been able to buy it at prices it should never have been. The only people who are left are those non-traders who haven't panicked out. The numbers are too low. Steel remains in short supply -- check the terrific piece in The Washington Post yesterday -- and Nucor is protected from sky-high scrap prices by its recent acquisition. We don't get these situations often: a high-quality company prices a secondary that is down a lot already and it goes lower. But in my experience, unless you jump up and down and shout it from the rooftops, people miss it. If you are a bull on steel (as I am), this is a great chance. Sure, yesterday was better. However, anything around the $73 print price is a win in my book now that most of the weak hands were shaken out by the decline. I'm salivating at the prospect of buying this incredibly oversold story with the better balance sheet than it had before. How great is Nucor? I liked this company even when the foreigners were dumping. Special dividend, fairly consistent earnings from a steel company. What's not to like? Great moment to buy.

Cramer thinks HPQ could be a nice play after seeing the recent move in IBM. “IBM (IBM) at its 52-week high. Does anyone care besides Mark Hurd at Hewlett-Packard (HPQ)? This is a remarkable, noteworthy move and a statement that when you combine hardware with consulting, it works. IBM is a double-digit grower with a market multiple. That explains the move. You can't find a lot of large-cap double-digit growers that sell at 15 times next year's earnings. I see lots of 16 and 17 ones. But very few 15 ones. Geography? IBM left the U.S. behind years ago. But what is most impressive about this stock is its shareholder friendliness. Do you realize that IBM has gone from 1.7 billion shares to 1.4 billion shares in the last four years? This isn't a company that is issuing options left and right and is buying back stock to offset the dilution. This one is genuine shrinkage. It's the real deal. It is why I am so warming up to HPQ after the EDS transaction. After initially thinking that HPQ was running out of gains that could be had by growth coupled with cuts, I now see the HPQ as the next IBM. You know what? That's worth a lot to a stock. Don't believe me? Then what is IBM doing at its 52-week-high?”

From a recent Mad Money show: "It's had a big run. I don't think its sustainable at this level. I want you to take profits on that one. I fear people giving back gains."

From a recent Mad Money show: "Statoil has a checkered past in finding new oil. It is not my favorite oil. I can't get behind it."

From a recent Mad Money show: "This is a company I've been behind for a long time. This is a great supermarket stock with a lot of great brands."

From a recent Mad Money show: "You know I've liked RIG, it had a big run, so be careful there. I also like National Oilwell Varco (NOV), they have a monopoly and they're my favorite."

From a recent Mad Money show: "I think Harley has been hit and hit from the weak consumer. I think this is the floor for the stock and I'm almost ready to pull the trigger on that one."

From a recent Mad Money show: "I think they're getting their arms around what's wrong. I am in the 'don't buy' camp for right now. It's too dicey."