On tonight's MAD MONEY on CNBC Jim Cramer addressed the opportunity created by the big down day. He thinks some stocks are so loved that hedge funds and mutual funds just keep buying. These funds can't buy what they want all at once any longer, so they just keep buying and then the smaller funds jump on board. The other change is that the companies are shrinking because of buybacks. On days like today they sold off and that's an opportunity for you to buy. The floats on these are small enough that they almost trade like small cap stocks. He has a dozen of these stocks:

Whirlpool (WHR), Black & Decker (BDK), Allegheny Tech (ATI), General Cable (BGC), Honeywell (HON), American Standard (ASD), Johnson Controls (JCI), McDermott (MDR), Foster Wheeler (FWLT), Caterpillar (CAT) and Terex (TEX), and Deere (DE).

What Cramer is talking about does have some merit, but keep in mind that when this happens there is a mad rush at the exits when the line ends. In a world where funds are now in the tens of billions of dollars, this is becoming an issue. He's touting it a bit too much and these are names that are probably better for the public to buy on short-term weakness rather than on strength.

This follows up on yesterday's feature by Cramer where he sort of touted this as a scam on Wall Street in Qualcomm (QCOM).

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

MOST NOTEWORTHY: Strattec Security Corp (STRT), Palm, Inc (PALM), Netflix, inc (NFLX), J.C. Penney Co, Inc (JCP) and Marriott International Inc (MAR) were some of today's noteworthy upgrades:

• Baird upgraded shares of Strattec Security Corp (NASDAQ: STRT) to Neutral from Underperform following its Q3 report.

• Shares of Palm, Inc (NASDAQ: PALM) were raised to Equal Weight from Underweight at Lehman Bros.

• Banc of America upgraded Netflix Inc (NASDAQ: NFLX) to Neutral from Sell based on valuation.

• J.C. Penney Co Inc (NYSE: JCP) was raised to Strong Buy from Accumulate with a $105 target at Buckingham, citing strategic merchandise, flow and cycle-timing initiatives.

• Wachovia believes that as the lodging cycle matures, Marriott International's (NYSE: MAR) diversified fee-based, unit-driven model will outperform relative to pure hotel-owned companies, and upgraded shares to Outperform from Market Perform.

OTHER UPGRADES:

• Goldman Sachs upgraded CNOOC Ltd (NYSE: CEO) to Buy from Neutral.

• JMP Securities raised Packeteer, Inc's (NASDAQ: PKTR) rating to Market Perform from Underperform.

• Oppenheimer upgraded Playtex Products, Inc (NYSE: PYX) to Buy from Neutral on its acquisition of Tiki Hut, strong fundamentals and realistic investor expectations.

• JP Morgan upgraded shares of American Standard Cos Inc (NYSE: ASD) to Overweight from Neutral.

• Matrix USA raised the rating of Hecla Mining Co (NYSE: HL) to Hold from Sell.

• Shares of VCA Antech, Inc (NASDAQ: WOOF) were upgraded to Outperform from Market Perform at Morgan Keegan.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

On today's STOP TRADING! on CNBC, Cramer said that American Standard Companies, Inc. (NYSE: ASD) is a stealth housing play where it is splitting itself up at the bottom. Cramer thinks this one is good, but he wants to avoid the other housing stocks and other homebuilders. This is one that will benefit from remodeling as it is big into bathrooms. Cramer thinks American Standard sells very well at Lowe's Companies. Inc. (NYSE: LOW) and LOW hasn't gone back to recent stock lows. He thinks this home weakness is still weighing on Fortune Brands, Inc. (NYSE: FO).

If the weak dollar persists, Cramer said the best play for this is The Coca-Cola Company (NYSE: KO). He thinks the numbers ahead will drive the stock up to $55 or even potentially $60.

Cramer also noted that MasterCard Inc. (NYSE: MA) is signaling that its problems are behind it. He thinks it is cheap and it is one of his favorite names right now.

Jim Cramer opened CNBC's MAD MONEY discussing how to tell when a broken stock is on the mend: you need to do something big. Viacom Inc. (NSE:VIA) is showing this by its 250 job cuts yesterday. So Cramer is changing to being a Bull on Viacom. He said he was this way at $17 on Time Warner Inc. (NYSE:TWX). VIA now needs to focus on growing profits rather than revenues. Sumner Redstone is back, according to Cramer; and he thinks that they will do another big buyback or that a private equity firm could swoop in and buy it. VIA's 52-week range is $32.42 to $43.87, and it closed at $39.98; so at $40.55 after-hours this one has already seen some of the worst behind it. VIA is still under where it was when it split from CBS.

Cramer also said that private equity has a ton of money tied up, with Goldman Sachs alone raising $19 billion. Cramer said they can borrow up to 10 times, and they are willing to pay big premiums. He thinks Lamson & Sessions (NYSE:LMS) is the one they should pay $35 to $40 to acquire. His private equity master-plan works, but he says he still only wants to look at companies if they make sense. If it was valued like PW Eagle that just got a bid it would be valued at $35 to $38 today. He said it didn't even move when LMS hired a banker. LMS only has a $445 million market cap and Cramer thinks this should be rolled with American Standard (NYSE:ASD) now that they are selling the plumbing business; and then he'd buy the Home Depot (NYSE:HD) building and supply business. Cramer thinks this would be a big powerhouse company. He said this would be a vertically integrated company that could easily be public again in 3-years.