Cramer's 'Mad Money Recap': Skip the Fed Watch

Apogee, he said, is a member of the hot green building movement, but has no major analyst coverage and flies under the radar of Wall Street.

Cramer said Wall Street mistakenly think of the company as levered to residential construction when, in fact, it makes energy efficient glass products that are mainly used in commercial applications.

As energy costs continue to rise, he maintains, Apogee's products will only continue to be increasingly in demand. Cramer said the company's business is on fire and noted that Apogee currently has a $510 million backlog, the largest in its history.

Apogee recently reported earnings of 49 cents a share, compared to forecasts for just 45 cents. Revenue was up 18% for the quarter and the company raised its full-year guidance. Cramer called this a "monster" quarter for Apogee, but added that no one cared because no one follows the stock.

Cramer called the company ridiculously cheap with a P/E ratio of just 11 despite the company's 20% growth rate. He recommended investors not pay up for the stock, but begin buying over the next few days.

Mad Mail

In this segment, a viewer asked about Clean Energy Fuels (CLNE Quote - Cramer on CLNE - Stock Picks). Cramer called the company an aggressive growth stock that's difficult to value. He recommended it only as a speculative play.

A second viewer asked about Costco (COST Quote - Cramer on COST - Stock Picks). Cramer called Costco one of only four retailers that he's recommending. The other three are TJ Maxx (TJX Quote - Cramer on TJX - Stock Picks), Walmart (WMT Quote - Cramer on WMT - Stock Picks) and Urban Outfitters (URBN Quote - Cramer on URBN - Stock Picks).

A third viewer asked if Petrobras (PBR Quote - Cramer on PBR - Stock Picks) could be considered a long-term investment. Cramer said he considers Brazil is stable enough to be a long-term investment.

Sudden Death

In Sudden Death, Cramer was bullish on Precision Castparts (PCP Quote - Cramer on PCP - Stock Picks).

Cramer was bearish on International Speedway (ISCA Quote - Cramer on ISCA - Stock Picks) and Hexcel (HXL Quote - Cramer on HXL - Stock Picks).

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