Mad Money Recap

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Cramer's 'Mad Money' Recap: Mineral and Metal Deposits

TheStreet.com Staff

Click here for an archive of Cramer's "Mad Money" recaps.

Today the bulls got what they were looking for, Jim Cramer told viewers of his "Mad Money" TV show Wednesday. "The Fed blinked" and took out the line in its statement about "additional firming," suggesting that we are headed for an interest-rate cut rather than a raise.

Getting rid of the "bad language" is what lifted the Dow and caused the market to rally, Cramer said.

The market often bottoms in thirds, and it's been doing so recently. The first third to bottom was the defensive stocks, followed by the financials. Now the final third is bottoming, and that is the minerals, he said.

The Fed has not changed rates yet, but a transition is occurring here, which means "the crisis, our short national nightmare, is over," Cramer said.

Cramer deemed the following stocks all good to buy now: Boeing (BA Quote), United Technologies (UTX Quote), Deere (DE Quote), Ingersoll-Rand (IR Quote), Freeport-McMoRan (FCX Quote) and Caterpillar (CAT Quote), the last of which Cramer owns for his Action Alerts PLUS charitable trust.

Haynes, Your Way to Play Metals

Cramer also offered viewers another name -- Haynes International (HAYN Quote). On Tuesday, this company brought a secondary offering to the market in an effort to improve its balance sheet, Cramer said.

Haynes is the cheapest stock in a sector that is "red hot," the performance metals business, he said. "The demand for its product is only exceeded by demand for its stock."

Analysts are looking for a new name in this sector and Haynes is it, Cramer said. It is a buy.

Scandinavian Defense

Judging by the way the defensive stocks performed today, "which was fabulously," market players have to keep an eye on them, especially the drug stocks, Cramer told his viewers.

U.S. drug companies don't seem that appealing right now, and that's why people need to consider buying shares of Scandinavian company Novo Nordisk (NVO Quote), Cramer said.

The main reason Cramer said he likes Novo Nordisk is because of its diabetes business and the fact that it is not U.S.-based. Not only does Novo Nordisk have 50% of the global market in diabetes care, the Denmark-based drug company is blowing away its competitors, he said.

Novo Nordisk has "some of the best" insulin analogues and a patent protection for them. Plus, Novo Nordisk is already selling human insulin at low prices, which keeps it clear from generic-drug competitors, Cramer said.

Would-be investors are lucky because the market is not "clear-headed" with this stock, he said, adding he believes it should hit $100 at the very least. It closed at $88.71 Wednesday.

Wal-Mart Worth the Discount?

Cramer told his viewers he has not been secretive about his dislike for Wal-Mart (WMT Quote) or his belief that people cannot be in it until the retailer's CEO Lee Scott leaves the company.

"But the hallmark of a good investor is to hear the contrary side," he said. And last night during his "Back to School Tour" a student from the McCombs School of Business at the University of Texas at Austin tried to sell the idea of buying Wal-Mart.

Cramer admits the stock is cheap and seems undervalued. Moreover, it is hated by investors and the press, which is a good thing, and its management has become more focused, he added.

However, the fact is that 16 out of 28 analysts like it very much, which is too many for Cramer's taste. Even though they claim to hate it, they have still have not abandoned it, he said. Plus, it will take the company years to remodel all of its stores.

Cramer said he's moving it from a "triple-sell" up to a "don't buy." But he still believes if market players are looking to get into retail, the better bets are J.C. Penney (JCP Quote), Kohl's (KSS Quote) and Sears (SHLD Quote), which he owns for his charitable trust.

Mad Mail & Sudden Death

In his "Mad Mail" segment, Cramer told a viewer Google (GOOG Quote) is not at its top, or peaking. Its YouTube acquisition is not a sign of overexpansion, "it was brilliant," he said.

The problem with Google, Cramer continued, is that Viacom (VIA.B Quote) has taken it to the cleaners here. If it weren't for the lawsuit against it, Google would be higher, Cramer said.

Responding to another mailer, he said Nastech Pharmaceutical (NSTK Quote) is the only autism play.

Cramer advised sticking with it because he believes it should go higher.

During the show's "Sudden Death" round, Cramer was bullish on NYSE (NYX Quote), ConAgra Foods (CAG Quote), PepsiCo (PEP Quote), Heinz (HNZ Quote) and Terra Nitrogen (TNH Quote).

Lightning Round

Cramer was bullish on KB Home (KBH Quote), Citigroup (C Quote), Walter Industries (WLT Quote), Harley-Davidson (HOG Quote), Lundin Mining (LMC Quote), First Solar (FSLR Quote), Exxon Mobil (XOM Quote), XTO Energy (XTO Quote) and Transocean (RIG Quote).

Cramer was bearish on Sourcefire (FIRE Quote), FuelCell Energy (FCEL Quote) and Occidental Petroleum (OXY Quote).

For more of Cramer's insights during the Lightning Round, click here.

Want more Cramer? Check out Jim's rules and commandments for investing from his popular book by clicking here.