Cramer's 'Mad Money' Recap: Stick With Skechers

He recommended Annaly (NLY Quote). The company has a plan to take advantage of value in the distressed real estate market. He recommends reading CEO Mike Farrell's analysis on the company's Web site. The company is set up to benefit financially from fed cuts. Additionally, they minimize credit risk by owning mostly government paper, eliminating the possibility of defaults.

The next stock Cramer recommended, FMC Technlologies (FTI Quote), is an oil-service play. The company helps drillers get more oil in a domestic market where every extra barrel counts.

Cramer's final rate cut play was Transocean (RIG Quote). The stock, which he also owns for his Action Alerts PLUS portfolio, has been "biding time," but is only exposed to deep-water drilling, so won't be hurt in the same way American drillers have. In addition, RIG is closing on a merger deal with Global Santa Fe (GSF Quote), which will yield a new company and a $33 dividend.

Each of the three Fed plays report before Wednesday's meeting, so Cramer recommended buying half of the position on Monday, then waiting for good news before completing the investment.

Mad Mail

One writer asked Cramer why investors were willing to pay such a high premium for stock in Las Vegas Sands (LVS Quote) over Wynn (WYNN Quote). He claimed that with price over earnings at 21 and higher profits, Wynn should not be trading at a discount to Sands.