Cramer offered up his two favorite European picks during Friday’s Stop Trading!, saying they both “work big here.”

He likes BP on the strength in oil prices. Awhile back management had said the company’s dividend, the yield right now at 7%, was safe as long as crude prices stayed at or near $50. Cramer was surprised then that BP is up only $1.50 since that call, when oil traded between $48 and $50, despite the price per barrel now being over $60. BP, “the cheapest oil company I follow,” he said, is a buy.

Cramer’s other pick, Unilever, has “the greatest growth prospects of the package goods industry,” he said. “Much, much more than almost every other company.” This is a “terrific stock,” and Unilever’s reorganization is making it competitive against Procter & Gamble.

Investors should short US Steel and go long on Nucor, Cramer said. With President Obama’s focus on carbon emissions, they don’t have much choice. As much as he likes US Steel’s management, the company uses far more coke coal than Nucor does in its production process, and the Obama plan will tax that. Cramer also pointed out that US Steel is up big from its secondary offering price, “so there’s a lot of room for it to fall.”

Elsewhere in the market, Cramer called English banks “awful places to be,” saying, “I don’t want to touch them.”

Lastly, Cramer pointed to the surprising strength from Sears Holdings . Kmart’s comp store sales were “much better than everyone else in that particular segment,” and the company is “not nearly as bad off as we think.” At one point, the short interest in this stock outweighed the long, mainly because investors doubted Chairman Edward Lampert would be able to roll over Sears’ debt. But now “that’s off the table.”

“Lampert really got it right,” Cramer said.

Cramer's charitable trust owns BP.

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