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Jim Cramer's 'Mad Money' Recap: Stop Panicking

Cramer was bearish on Questcor Pharmaceuticals (QCOR) and Ultra Petroleum (UPL).

Executive Decision: Stanley Crooke

For his "Executive Decision" segment, Cramer spoke to Dr. Stanley Crooke, chairman and CEO of Isis Pharmaceuticals (ISIS - Get Report), a stock that's up 307% since Cramer last checked in back in October 2012.

Crooke said it's going to be an exciting year for Isis because his company has a ton of new drugs currently in trials, with lots of news coming on all fronts throughout the year.

Crooke sees substantial market opportunities for many of the drugs currently in development, which include everything from cholesterol to spinal muscular atrophy to several treatments for diabetes.

Must Read: Jim Cramer's 'Mad Money' Recap: An Irrational Market

Cramer agreed, saying that with so many drugs in development and so many milestones coming up soon, Isis remains one of his favorite drug discovery biotechs.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the rally in the oil patch, a well-deserved move to the upside that is finally upon us.

Cramer said the independent oil and gas producers have come roaring back to life, thanks in part to a terrible winter that has sent crude prices higher. With production and reserves also on the rise, it's no wonder stocks like EOG Resources (EOG) are now hitting all-time highs.

Whether or now the controversial Keystone XL pipeline gets built, Cramer said he'd use any weakness in these stocks to be a buyer.

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 no positions in stocks mentioned.
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