The best performing stocks of 2011 have quickly become the biggest losers of this week, Cramer said Wednesday. Many of the hottest sectors, like minerals, industrials and oil, are getting annihilated.
"Whenever we get this kind of pullback, it’s good to take a step back and sift through the rubble of the stocks that have come down the hardest to see what might be worth buying," the "Mad Money" host said. "There are a lot of broken stocks out there that belong to perfectly intact companies."
Take National Oilwell Varco , for example. While the oil and gas drilling and production company's stock saw an incredible run over the past 12 months, Cramer noted shares fell sharply in the past few days. It's now at a point, where investors can safely start slowly legging into the stock, he said.
National Oilwell Varco shares may be falling, but Cramer thinks the underlying business is intact. To learn more about its future prospects, Cramer spoke with CEO Pete Miller. Watch the video to see the full conversation.
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