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'RealMoney' Radio Recap: Ghosts of Rallies Past

Peltier likes Landec (LNDC - Get Report) because he sees the company benefiting from the growth of packaging for supermarket fresh-cut fruit and vegetables. It's not the cheapest stock in the world, he said, but the company has demonstrated 60% earnings growth each year for the past three years, he said. Peltier believes Landec could get to $8 to $10 over time. Landec traded at $7.79 late Friday.

Cramer said the stock "sounded like a buy."

Of Prana Biotechnology (PRAN), Peltier said it was the one stock "I'd definitely give a buzzer to." The company has no revenue, he said, and although it has $21 million in cash, it is burning through cash at a rate of $30 million a year, he said. It's likely Prana will need to do a secondary offering, he said. If you really want to buy the stock, wait for the secondary, he said.

Cramer recommended taking a pass on Prana.

Finally, Peltier said Dynegy (DYN - Get Report) is a stock in the Stocks Under $10 newsletter that he particularly likes. He believes Dynegy is turning its business around, and he does not believe the stock will continue to trade in the $4 range much longer. Dynegy traded at $4.77 late Friday.

Cramer's Callers

Cramer said talk of CVS (CVS - Get Report) acquiring Albertson's (ABS) pharmacies would be a red flag for CVS. CVS recently acquired Eckerd, and another acquisition would further raise suspicions there "isn't the kind of natural growth in this industry" that there once was, he said.

Cramer would recommend swapping out of CVS into Walgreen (WAG), which he believes will soon take out its 52-week high of $49.01. Walgreen traded at $46.94 late Friday.

Lightning Round

Bullish

Cramer was bullish on Mittal Steel (MT - Get Report), Cigna (CI - Get Report), UnitedHealth Group (UNH - Get Report), W. P. Carey (WPC - Get Report), Texas Instruments (TXN - Get Report), Schering-Plough (SGP) and Nelnet (NNI - Get Report).

Bearish

Cramer was bearish on DreamWorks Animation (DWA - Get Report), RadioShack (RSH), Anadarko Petroleum (APC - Get Report), Impac Mortgage Holdings (IMH - Get Report) and Pfizer (PFE - Get Report).
At the time of publication, Cramer was long Intel, Microsoft, Schering-Plough and UnitedHealth Group.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS . While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here . Listen to Cramer's RealMoney Radio show on your computer; just click here . Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict."
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