'RealMoney' Radio Recap: Brokerage Bets

In response to a question about Montpelier Re (MRH), Cramer said he believes the stock is being sold by people who bought it at $24 in Montpelier's recent stock offering. If the stock falls to $25,it would be a "gift," Cramer said, and he would buy it. Montpelier Re traded at $25.97 late Monday afternoon.

A caller asked about Hoku Scientific (HOKU). Cramer said some people believed the stock was overvalued at $6 when he first recommended it, and he feels it is "overvalued at $12." But, there are "certain points in the life of a stock where valuation doesn't matter," he said. Cramer feels Hoku is in the "sweet spot" of the market's fancy right now, and he doesn't see a catalyst for the stock coming down.

For a safer play on more fuel efficient cars, Cramer would recommend Toyota Motor (TM).

Another caller asked about Lucent (LU). Cramer said he is sticking by his Lucent recommendation because of the company's strong position in wireless and the company's hefty cash position. If Lucent can figure out how to stem the weakness in its wireline business, he sees "$1.50 up and 25 cents down." Lucent traded at $3.02 late Monday.

Finally, in response to a question about St. Joe (JOE), Cramer said the stock is up against the "phantoms and negative psychosis" of negative sentiment toward housing stocks and fear of hurricanes. "Use wide scales and wait for it to go lower," said Cramer.

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