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FANG has been the leader of the market but took a nosedive with the rest of stocks in this week's selloff. So, now that they have bounced back, Cramer can see investors salivating to sell their positions and take a gain.
Cramer thinks that is a bad idea.
The "Mad Money " host knows that he walks a fine line with making a call on FANG. And although they have been fabulous performers since he crowned them, he is not ready to declare victory and tell everyone to sell.
He went down the list for each stock to make the case as to why they shouldn't be sold, yet.
Google, until its recent reorganization, Cramer considered this stock to be a plaything of managers to act like it was a private company. All of that changed when it appointed a new CFO, Ruth Porat. Cramer has confidence that it could be one of the fastest growing companies on Earth and with a cheaper valuation to its peers.
So while some may think that FANG defines the market top and advocating picking apart these stocks, Cramer does not agree.
"I still like them, and I will keep defending them because I believe they can go higher," Cramer said.
After the total chaos and volatile nature of the market this week, Cramer can't blame investors who have lost faith in stocks, but he urged them not to give up.
"Here I am telling you, yet again, that if you protect yourself with limit orders, if you use weakness to put some of your capital to work, not run from the market, you can use your money to make money in stocks, and that's not something you can say about cash," the "Mad Money" host said.
The market is now faced with the end of the Fed's period of accommodation, and it could happen as soon as next month. And unless China totally implodes or there is some horrendous credit event that brings down brokerages around the world, Cramer is tempted to say to just get the rate hike over with so investors can go back to focusing on the fundamentals of companies.
Until then, the market will hang on every word about the Fed, and it will only get worse before it gets better. With this in mind, Cramer shared his game plan of events and stocks he will be watching next week.
Friday: Nonfarm payroll report
Cramer considers this to be the single most important piece of domestic data before the Fed's open market committee meeting on Sept. 15 and 16.
If the market is strong going into this number and there is strong job creation and no turmoil overseas, then Cramer expects to hear an outcry from members of the Fed that the Fed's hand is forced. That means the market could tank when this happens.
Metal and mining stocks also took a horrendous beating this year, and even after they rebounded this week they are still in rough shape. However, Cramer saw that there was one portion of the metals complex that could have been overshot to the downside and could have a pulse again.
"I'm talking about perhaps the most hated group in the market, now that oil has taken off. I am talking about—are you ready skeedaddy—the steel makers," Cramer said.
That is why he turned to Bruce Kamich, a chartered market technician who is a professor at Baruch College and a colleague of Cramer's at RealMoney.com.
Kamich thinks this sector is worth watching because the steel makers have come down to such low levels. Significantly lower share prices and big layoffs convinced Kamich that these players could be close to a bottom.
Looking at the daily chart of the Market Vectors Steel ETF, called SLX, Kamich pointed out that the SLX just retested its 2009 lows of $22 this week. However, that low held and the ETF started to bounce back. And while the steel ETF has been on a downtrend, Kamich thinks that if the SLX can rally above $26 and hold, then that could be a very good sign.
Some may think that since the market has settled down nothing really happened this week. Cramer disagreed, calling it one of the most monumental weeks in years. It was a week that displayed unprecedented volatility and the eye-popping frailty of equities.
More importantly, Cramer was reminded of some valuable personal finance lessons. This was a necessary education for investors to know how to protect themselves and take advantage of opportunity when it presented itself.
Monday: Even investing veteran Cramer was shocked at what he saw on Monday. He certainly expected weakness at the opening bell, given the weakness in China. But the action that occurred wasn't just selling; it was a flash crash with the Dow opening down 1,089 points.
The massive drop was unnerving to Cramer, but he was reminded of two things.
Lesson No. 1: Never use market orders
Prices on Monday were absolutely horrendous, but then they snapped back close to where they went out on Friday. Both a sell order with a limit and a buy order with a limit put a couple of points above those terrible prices could have let you crush the market. Terrific bargain buys could have been made.
Even after a crazy week, Cramer still likes to help investors find opportunities of companies that could disrupt the industry that they are in, even if it means looking at companies that are privately held.
That is why he went off the tape to look at Vitals, a privately held company that aims to be the Priceline of the health care industry. It provides consumers with easy-to-access information about the cost and quality of health care providers, with over 6 million doctor ratings and reviews.
Vitals has basically created a giant map of the U.S. health care system for consumers, as well as a suite of software services for health plans to better serve their members.
Cramer spoke with Vitals executive chairman and founder Mitch Rothschild, who explained that with the Affordable Care act has prompted millions of Americans to pay more attention to their health care.
"When it was dad's credit card paying, they didn't care. Now with high-deductible plans on the exchanges, people are caring; and when they don't care, we try to intervene and give them an economic reason for caring and provide incentives to make the smart economic choice," Rothschild said.
In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:
Array Biopharma: "The last program that they had was not up to snuff, which is why the stock came down. But they have others. I will sanction it only as a pure spec."
Groupon: "We are not fans of Groupon. It is too early to buy Groupon. There are still a lot of things that are not working there."
Correction: This story has been updated to reflect Vitals software services for health plans