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Cramer's 'Mad Money' Recap: Grant Prideco Primed for Run

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Whether or not the Fed cuts rates on Tuesday, oil and oil service companies should continue to work, Jim Cramer told viewers of his "Mad Money" show Monday.

While stocks in the oil service group have mostly gone up, Cramer provided investors with the "ultimate laggard that is ready to roll" -- Grant Prideco (GRP).

Although its business of selling drill pipes is "phenomenal," Grant Prideco, said Cramer, has been lagging in the group and deserves to go higher now. For anyone who doesn't know much about oil service companies, he pointed out www.schlumberger.com as having the best glossary in the oil service market and urged people to check it out.

Grant Prideco's CEO has been underpromising and overdelivering, Cramer said. At $55 a share, Cramer believes GRP is "a total steal." He compared it to National Oilwell Varco (NOV - Get Report), but said that while NOV is more of a national machinery company, GRP is more of a consumables company.

Cramer called GRP "the Gillette of oil service," as it manufacturers products that are thrown away.

Israeli Satellite Play

RRSat Global Communications Network (RRST) is a stock that is totally impervious to Chairman Ben Bernanke and the Federal Reserve, Cramer said.

RRST, an Israeli satellite company that provides uplinks for 295 TV shows and 80 radio stations worldwide, could make people some serious money, he said. But first a caution: RRST is a company with a $300 million market capitalization, Cramer warned. It is a small company that is more thinly traded than most of the other stocks he recommends, he said.

He cautioned viewers not to buy the stock right away. "If you buy it now, you'll be sadly disappointed because you'll pay more than you should," Cramer said. Instead, he advised people to buy it next week and to use limit orders when doing so.

RRST, a global content distributor, has the unique ability to transmit content in a single satellite hop, which keeps its costs down, Cramer said. It is because of these low costs that he believes RRST has the ability to maintain its market share and gain more share.

Right now, RRST controls 2% of its market, Cramer said. It's been under the radar since it came public last November, and currently has four analysts covering it, he said. RRST has 40% growth and is a great play on the growth of satellite TV.

That said, it is speculative and shouldn't be bought right away, Cramer stressed.

On a separate note, he recommended market players take some Adobe Systems (ADBE - Get Report) off the table, as the stock has had a considerable run recently.

He suggested waiting until after the Fed meets to consider buying GRP, but said if people can get it below $55, they should buy it.

The Sporting Cramer

Cramer said he is used to people in the business media criticizing him and usually takes it in stride, but last week he was surprised to see that the journalists who dislike him have transcended business news and gone into sports news.

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