Cramer's 'Mad Money' Recap: In the Wolverine Den

Every major publicly traded company holds a conference call when it reports earnings, he said. And these calls are usually available on the company's Web site.

You're always listening for something that is better than expected, he said, some part of the business that is booming. From there, he said to extrapolate and find other companies that should benefit from this trend.

While he was listening to the United Technologies call, the company said that its heating ventilation and air conditioning (HVAC) business saw its business improve on double-digit growth and higher prices.

That gave him his idea -- HVAC -- so he looked for all of the companies that are involved in this segment.

The first company he came up with, Goodman Global(GGL Quote), didn't pan out because it is levered to the residential market. United Technologies does commercial HVAC work.

But Comfort Systems does heating and air for commercial and industrial markets, so Cramer decided to investigate further.

He went through the earnings report, analyst research and articles to see if the company's fundamentals were up to snuff. After all that work, he decided that he had found an undervalued stock that is ready to run higher.

If you can do all of this, you'll be doing the work of a Wall Street analyst in about two hours, he said. And if you figured it out before the Street did, then you can get in and make money before the analysts hand this knowledge out to everyone else on a "silver platter."

The Build in Infrastructure

It's not hard to tell which stocks are in bull mode because they're the ones that are going higher, Cramer said. But it's hard to know which ones have legs and how to play them.

Right now the infrastructure sector is in a "fantastic bull market," he said, especially for energy infrastructure.