Cramer's 'Mad Money' Recap: Bernanke's Negative Show (Final)

The Fed chairman's congressional testimony today belied the improving economy he has helped foster. <A HREF="http://www.thestreet.com/headlines-and-perspectives/jim-cramer/index.html?cm_ven_int=320X240TSCAD"target="blank">Click for news from Jim Cramer.</A>
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"Ignore the man in front of the curtain," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday, referring to Ben Bernanke's testimony before Congress today.

He said the

Federal Reserve

chairman's remarks were politically based and had little to do with the actual state of the economy.

According to Cramer, Bernanke's remarks before Congress today had to be negative to justify all of the extreme measures being taken to both bail out the financials and save the economy at large.

Had Bernanke said things were getting better, Congress would have certainly questioned his actions and stripped him of the tools needed to complete the job, theorized Cramer.

Investors looking for the real direction of the economy need to look at

Caterpillar

(CAT) - Get Report

, said Cramer. Here's a company that's ruthlessly cutting costs and is now making more products for less and earning its nine-point rise over the last five days, he said.

Cramer also found strength in

Apple's

(AAPL) - Get Report

blowout results. He said the technology rally will continue on the heels of this monster news.

Bottom Line: Investors needed to ignore Bernanke's cautious words and focus on the pockets of strength that are hinting at the eventual recovery, he said.

Off the Charts

In the "Off The Charts" segment, Cramer looked at the chart of

Las Vegas Sands

(LVS) - Get Report

, and went head to head with colleague Dan Fizpatrick, over the interpretation of the chart.

According to Fitzpatrick, Las Vegas Sands is a buy, with the chart showing a huge breakout above its 200-day moving average. Fitzpatrick also noted that the stock has finally held the $10 a share level, without breaking down, signaling that investors finally have some conviction in the company.

But Cramer sees things differently, saying if investors like Las Vegas Sands, they'll love rival

Wynn Resorts

(WYNN) - Get Report

, which has all of the positives of the Sands, but with far fewer of the negatives.

Cramer said when it comes to casinos, it's all about the Chinese province of Macau. And while both companies are planning to IPO portions of their Macau businesses later this year, Cramer said Wynn's deal will be coming sooner and is coming from a position of strength.

According to Cramer, concerns over the Sands' financing has weakened the company, with five Macau projects having been halted due to financing concerns. Wynn, however, does not suffer from financing concerns, making it the stronger player. Cramer valued Wynn's Macau properties at $6 billion, meaning the rest of the company is grossly undervalued.

Mobile Internet Boom

In support of his thesis that mobile Internet is a game changing technology, Cramer welcomed Bob Bowman, president and CEO of the privately held MLB.com, to the show to discuss his products and how the mobile Internet has affected his business.

Bowman said MLB TV subscribers now have the ability to watch any game they want on their iPhone or other mobile device.

In discussing MLB's technology, Bowman said that his company uses

Akamai

(AKAM) - Get Report

for its back end and

Adobe's

(ADBE) - Get Report

Flash player for its video, and hardware from

Cisco

(CSCO) - Get Report

, a stock which Cramer owns for his charitable trust,

Action Alerts PLUS, and

Sun Microsystems

(JAVA)

.

Bowman said the mobile Internet has been huge for the company, with mobile page views increasing from 8% to more than30% of all the site's traffic in just two years.

Asked if MLB.com would consider going public, Bowman said it's unlikely given that the company does not need capital and its investors have long-term plans for the company.

Mad Mail

Cramer told a viewer that

Harley Davidson

(HOG) - Get Report

is still in the middle of its turnaround, and strange things can happen with the stock at the bottom.

Cramer told a second viewer that he'd swap out of

Frontline

(FRO) - Get Report

in favor of rival

Nordic American Tanker

(NAT) - Get Report

. He told another viewer that the market doesn't care about

Verizon

(VZ) - Get Report

, but there's room for this high yielder in every portfolio. He said he'd buy more under $29 a share.

Lightning Round

Cramer was bullish on

Travelers Companies

(TRV) - Get Report

,

Huntington Bancshares

(HBAN) - Get Report

,

FirstMerit

(FMER)

,

Starbucks

(SBUX) - Get Report

,

McDonald's

(MCD) - Get Report

,

Nike

(NKE) - Get Report

,

Lululemon Athletica

(LULU) - Get Report

,

Nucor

(NUE) - Get Report

,

CVS Caremark

(CVS) - Get Report

,

Express Scripts

(ESRX)

and

Medco Health

(MHS)

.

He was bearish on

Allstate

(ALL) - Get Report

,

Imax

(IMAX) - Get Report

,

Cedar Fair

(FUN) - Get Report

,

Under Armour

(UA) - Get Report

and

American International Group

(AIG) - Get Report

.

Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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clicking here

.

For more of Cramer's insights during the Lightning Round, click here

.

At the time of publication, Cramer was long Cisco.

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.