Cramer's 'Mad Money' Recap: Hot Stocks

Moving in Macau

People who regularly watch "Mad Money" have likely heard Cramer talk about Macau, a region off the coast of China that has become a gambling tourist spot.

Cramer said he has recommended Las Vegas Sands (LVS Quote) as a play on Macau, as it was the first American company to build casinos in the region.

But now other companies moving there, and because he still believes it to be the "early innings of the Macau story," Cramer wants people to take a look at Melco PBL Entertainment (MPEL Quote), which raised more than $1.4 billion in an initial public offering that priced at $19 a share on Monday.

Melco is the first Macau IPO and is the first pure play on gambling in Macau, Cramer said. Although there are a lot of people eyeing Macau, it is still hot, he said, adding that "the hype shouldn't be dying down any time soon."

Cramer advised people to buy Melco, which was expected to open between $16 and $18 a share, up to $25. Further, he told people to buy it carefully once it starts selling for more than $25, and to sell it once it hits $40.

In his "Mad Mail" segment, Cramer recommended Baker Hughes (BHI Quote) and Halliburton (HAL Quote), which he owns for his charitable trust, Action Alerts PLUS, as two good oil stocks.

However, he said Halliburton is cheaper.

Consumer discretionary stocks are those companies where people spend their extra money, Cramer explained to his next mailer. Best Buy (BBY Quote) is an example of a discretionary stock, whereas a tobacco stock is not discretionary because it operates on the basis of people's addictions.

Separately, Cramer called Best Buy "too cheap" and said he's sticking with it, even though Costco (COST Quote) has hurt it and is doing extremely well.

Lightning Round

Cramer was bullish on Eagle Materials (EXP Quote), Marvell Technology (MRVL Quote), Chesapeake Energy (CHK Quote), Mueller Water Products (MWA Quote), Grey Wolf (GW Quote), Cisco (CSCO Quote), Apple (AAPL Quote), Goldman Sachs (GS Quote), Halliburton (HAL Quote) and ABB (ABB Quote).

Cramer was bearish on Morgan Stanley (MS Quote), Southern Copper (PCU Quote), PeopleSupport (PSPT Quote) and Allis-Chalmers Energy (ALY Quote).

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

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