Stockpickr: Cramer's Portfolios of the Week

Cramer's Telco Plays: Cramer said there was a way to play Verizon's(VZ Quote) quarterly report, which made it very clear that these telco stocks were going to benefit from big spending from the likes of Verizon.

It's been ages since we had a spending cycle worth noting in telco (vs. the unbelievably strong aerospace cycle). When we had the last one, it was fantastic for Ciena, JDSU, Alcatel, Lucent (pre-combination), Tellabs.

While Cramer admitted he "hates" this group (due to the fact that if Verizon stops spending, everyone would be in trouble), given that Verizon just reported, the window is open for some capital gains off this very big cycle.

Cramer's Commodity Collapse Plays: In a May 1 blog post Cramer pondered: "Are we again going to have that same commodity collapse that we experienced last May, when the Fed tightened when it shouldn't have?" He then went on to tell readers how we should play it if it happens. "The source of trouble then was an expected slowdown because the Fed tightened. The source this year would be the actual slowdown because the Fed tightened."

However, Cramer likes the following names because the demand is not in the U.S. "An intransigent, recalcitrant Fed doesn't mean as much to these companies as it used to. There will still be a nickel shortage and a stainless steel shortage.

There will still be an airline cycle. There will still be gigantic infrastructure buildup that will need materials and machines." His picks include US Steel(X Quote) and Caterpillar(CAT Quote).

Cramer's Medical Defensive Plays: On Monday's "Mad Money" show, Cramer unveiled his "ultimate defensive 'Three Bs' portfolio," which he called a necessity in a slower economy. Cramer offered viewers three companies that belong to the medical-industrial complex and that they should consider buying. The three stocks that Cramer likes are medical-related and richly valued, but they have come off of their highs and investors could take advantage. His picks include Baxter International(BAX Quote).