Dumb Market Makes AGN a Screaming Buy

Why is the market so dumb so often? Take Allergan (AGN - commentary - Cramer's Take): Every single time, every single time, it beats the quarter and then sandbags you down so it can do it again. The company's businesses -- everything from Botox to breast implants to gastric bands to cosmetics -- are on fire, every one of them.

Those who have thought they would see weakness because of woes of Medicis (MRX - commentary - Cramer's Take) on the wrinkle-free side and on breast implants as per weakness in Mentor (MNT - commentary - Cramer's Take), got the same treatment that those who shorted Nokia (NOK - commentary - Cramer's Take) off of Motorola (MOT - commentary - Cramer's Take) received.

Cramer: Stay Long Allergan

Today you got more good news when MRX's big challenger to Botox, Reloxin, which is already being sold in Europe, got rejected by the FDA.

Yet, this stock traded at $64 yesterday!

Last week, when I said I would buy AGN, I urged people to wait until after the quarter because they company would blow the numbers away, then would take the consensus down for this year, and everyone would freak out and sell it and then you would get your chance.

Typically, I have found that when you make that kind of prediction, it becomes self-fulfillingly wrong -- people watch the show and don't let it come down.

This one went like clockwork, EXCEPT FOR THE MEDICIS BONUS!

Stay long -- it's not done.

If it comes in, buy it.

Random musings: Speaking of dumb, MasterCard is NOT a play on debt, for heaven's sake -- it is a play on the worldwide drive away from paper to plastic. Has been from Day 1. ...The same buyers who came in after the last rate cut, the buyers for the financials and the retailers, are right back again today. ... Colgate (CL - commentary - Cramer's Take) AND Procter (PG - commentary - Cramer's Take) were real good.

At the time of publication, Cramer had no positions in the stocks mentioned.

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