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Jim Cramer's 'Mad Money' Recap: Don't Fear the Selloff

That strategy has worked well, Cramer noted, as Carrizo has now overcome its funding gap and can now fund operations through 2014.

Johnson cited the Niobara shale field in Colorado as one of Carrizo's many untapped assets. He said the region is just getting started but so far has been very profitable. Meanwhile, his company has been selling some of its Barnett shale assets as those wells have been primarily producing dry gas, which is not Carrizo's strong suit.

When asked about the possibility of being acquired, Johnson said that every small producer is being studied by larger companies, but he remains focused on growing and establishing his company's acreage and is not pay attention to possible acquisitions.

Cramer said Carrizo remains a great growth story and he remains a believer in the stock.

More Anointed Stocks

Continuing with his "Anointed Stock" series, Cramer looked at the best-performing biotech stocks of the year with the help of colleague Bob Lang for some technical analysis.

First, Lang looked at Celgene (CELG), a stock that's been running since mid-August on high volume. Lang felt that with the MACD and Williams' oscillators both showing an embedded overbought condition, this stock would rally hard through the end of the year, after first pulling back to its 50-day moving average of $140.

Next, Lang looked at Regeneron (REGN), which after rallying from $170 to $300 a share broke out over a double top to continue to new all-time highs. Lang noted the RSI and Williams' oscillators also showed strong overbought conditions, making this stock a buy after it pulls back to its floor of support at $275 a share.

Then there was Gilead Sciences (GILD), which Lang said had the best trend line of the bunch. Lang felt this stock could be bought even without a pullback.

Lightning Round

In the Lightning Round, Cramer was bullish on ARM Holdings (ARMH), Intel (INTC), Zoltek (ZOLT) and Cisco Systems (CSCO).

Cramer was bearish on Baidu.com (BIDU), Coach (COH) and Arena Pharmaceuticals (ARNA).

Executive Decision: Jean-Jacques Bienaime

In the "Executive Decision" segment, Cramer spoke with Jean-Jacques Bienaime, CEO of BioMarin Pharmaceuticals (BMRN), the orphan-drug maker whose four drugs have already racked up over $500 million in sales thanks, in part, to their high price tags of between $95,000 and $350,000 a year. Shares of BioMarin are up 28% since Cramer last featured the company in June.

Bienaime explained that with orphan drug makers it's not about the number of patients who you treat, it's about improving the quality of life for those you do. He said the patient populations they serve run between just 200,000 patients in the U.S. down to just 10,000 patients. But with no other alternative treatments available, insurance companies are willing to pay the drug's big premium since it makes such a huge difference.

Bienaime also touted his company's fifth drug, which is currently in Phase III testing, as a game changer for BioMarin because that drug also could more than double the company's revenue.

When asked about the scores of patients who are literally dying to get into new drug trials and studies, Bienaime said BioMarin works to get effective and safe drugs onto the market as quickly as possible, but it can't always accept new patients into their studies because they require randomized samples and double-blind studies.

Cramer called BioMarin one of the strongest biotech stories out there and one investors need to investigate.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer threw up his hands and said it's time to surrender all hope that Washington will ever understand the potential of oil and natural gas in our country. "How can this be so hard?" he asked.

Nearly all of the objections to natural gas have been met or debunked, Cramer continued. Yet, you'll be hard-pressed to find any elected official who's not on the renewable energy bandwagon touting solar and ethanol rather than stopping oil and gas imports from hostile nations.

Cramer said it's almost as if Congress has declared war on gaining energy independence and is now seeing higher gas prices as an incentive to conserve. Renewable energy, he concluded, is like a religion in Washington that cannot be stopped.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

At the time of publication, Cramer's Action Alerts PLUS had a position in CSCO.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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