Cramer's Emergency Game Plan

Despite Thursday’s massive drop, there are still stocks worth buying, Cramer said, and these should be the first to recover.

He laid out five kinds of stocks that can help defend against the recent market volatility. First, soft goods stocks with good growth overseas like Pepsico , Colgate-Palmolive and Kellogg. Kimberly-Clark is good too, he said.

Cramer’s wild bull markets still work as well. There’s Caterpillar in machinery, Foster-Wheeler in infrastructure, Freeport-McMoRan in metals and mining, Schlumberger in oil and oil services, Boeing in aerospace and Monsanto in agriculture.

Any of Cramer $80-to-$120 stocks will work: Boeing, ConocoPhillips, Energizer, Air Products, Apache and Terex.

Technology stocks are still a buy. Don’t forget Cramer’s four horsemen: Google, Apple, Research in Motion and Amazon . He likes Dell, Hewlett-Packard and Cisco Systems too.

Finally, healthcare and drug companies with international business like Celgene might work well.

Bottom Line: Use these five spaces to add some defense to your portfolio, but don’t start buying what’s working until you’ve sold what isn’t, Cramer said.

Jim's charitable trust owns Caterpillar, Hewlett-Packard and Freeport-McMoRan.

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