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

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.