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Cramer: What Can Still Be Bought?

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With the Dow Jones Industrial Average and S&P 500 making new all time highs almost every day, do any stocks still offer value?

"So many stocks have run, if you didn't know any better you would think that there's nothing left to buy," Cramer said.

The Mad Money host, however, does know better. And he's made a list.

Citigroup

At $47, Cramer admitted Citigroup is already up 24% for the year, which is better than the S&P. "But have you thought about the fact that this stock used to trade at $500 a share? And in many ways it is a better, leaner bank." Also Cramer likes the new CEO Michael Corbat and believes the company is well positioned for growth with more than half of its business coming from overseas. "You think you are late to Citigroup? Think again," Cramer said.

JPMorgan

Cramer sees JPMorgan as a victim of headlines. "This morning there was a piece in the New York Times about still one more scandal, this one involving energy price manipulation," Cramer explained. "But each time we get these scandals a few weeks later the stock typically trades higher. I believe this will be no different."

Wells Fargo

Cramer likes Wells Fargo as a play on the renaissance underway in housing. "Wells Fargo used the downturn to buy a down-and- out Wachovia to take over 30% of this nation's mortgage market. It was a brilliant decision yet the stock has still not taken out its pre-crash high." Cramer sees upside.

KeyCorp / First Horizon

"Both KeyCorp and First Horizon have used the downturn to solidify their standing in their respective regions," said Cramer. How do you spell bargains?"

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Radian / Genworth

Cramer likes Radian and Genworth in part because they were able to survive the financial crisis. "This mortgage insurance business used to have multiple players before the downturn. Now there's just a handful and they are just beginning to turn profitable," Cramer said. And he believes business could increase significantly because the FHA, which was one of their biggest competitors, has started to pull back from mortgage insurance. That should drive shares even higher.

Hartford Financial

Cramer called Hartford a screaming buy. "True it made a series of terrible investments before the downturn began," he admitted. But Cramer thinks the worst is over for this and other insurance stocks. "Don't forget, Hartford recently reported one of the best quarters of the earnings season."

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Microsoft

Cramer thinks this stock is cheap. "Microsoft has been busy creating immense value away from personal computers, with its digital entertainment business," Cramer said. "It sells for 12 times earnings with a 2.75% yield. Given the tremendous balance sheet and the ability to create value with this division, I think the P/E is just absurd." Soon enough, the Street may this it's absurd too.

EMC

EMC is among Cramer's favorite ways to play the cloud. "It's a repository for big data," Cramer explained. "It has pretty much beaten or met all expectations yet the stock is still negative ytd."

Ford / General Motors

Cramer thinks both Ford and GM are probably among the most undervalued in the market. "Ford and General Motors have been pulled down endlessly by Europe," Cramer said. "Ford traded at $18 not that long ago before Europe soured. Now it's trading $13, but I think it's a better company now. And GM is just now back to where it was when the government brought it public a little less than three years ago. At $32, I think is a value."

ConocoPhillips

Investors punished energy stocks earlier in the year and some of the selling may have been extreme. "Consider Conoco," Cramer said. "It has just gotten back to where it was two years ago despite the market being radically higher."

Schlumberger

Again, Cramer thinks this stock is simply too cheap. Schlumberger is trading around $74. "It was $94 a couple of years ago and it's currently experiencing a huge pick-up in business." Shouldn't it be higher?

US Airways

Cramer turned positive on the airlines a few months back and since that time has said US Airways is his favorite play in the space. "US Airways will soon be merging with AMR to form the largest airline on earth and I bet it can make more than any airline ever has in the history of this business. Why not get in now at $16 and change?"

Eaton

Eaton is largely a bet on improvements in the global economy. "I think Eaton is going to have a very strong 2014," said Cramer. "Yet it sells at just 13 times what I think they can earn next year." Cheap.

GE

Cramer also sees this stock as a beneficiary of global recovery. "Now I know the business has been weak of late, but if things get stronger overseas, GE could go for a run," Cramer said.

Caterpillar / DuPont

Both of these stocks also stand to benefit from an upswing in business activity. "Caterpillar and Dupont are both totally levered to worldwide growth that I think is just be beginning. In my opinion, they can be bought without too much price risk," Cramer said

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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