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"When Boeing beats the estimates, and it raises guidance, I need you to think like I do," Jim Cramer told his "Mad Money" viewers on

CNBC

Wednesday night.

Investors get to play airplane mechanics -- open up the Boeing plane and buy all of the parts that go into it, Cramer said.

Indeed, at the end of the day,

Boeing

(BA) - Get Report

really just puts all the parts together. So, when Boeing gets lots of orders, all the companies that make the parts go up, he said.

Cramer recommended that investors buy

BE Aerospace

(BEAV)

, which makes a lot of the cabin components;

Honeywell

(HON) - Get Report

, which makes most of the stuff in the cockpit; and

United Technologies

(UTX) - Get Report

, which makes power controls and propeller engine controls.

Other parts makers include

SAF

, a Paris company;

Rolls Royce

, which trades on the London Stock Exchange;

Moog

(MOGA)

;

Ducommun

(DCO) - Get Report

;

Woodward Governor

( WGOV), which sells energy control systems for jet engines;

Parker Hannifin

(PH) - Get Report

; and

Triumph Group

(TGI) - Get Report

.

Cramer said that Boeing always moves up before the parts makers, so there is still time to make money with these companies. If you could own only three of them, Cramer said that BE Aerospace, Honeywell and United Technologies are the "must-own" names in the group.

Cell Side

How about a stealth bull market? Cramer said the companies that own the cell-phone towers are in "one of the quietest bull markets I have ever seen." Cramer noted that companies like

Verizon

(VZ) - Get Report

and

Sprint

( FON) are in an ultracompetitive business. In order to improve their services, and support the booming cell-phone business, "providers must add antennas" to their cell-phone towers, he said. Nobody talks about the phone towers, Cramer said, but "I think they've got a lot more to go."

Cramer said that

Global Signal

(GSL) - Get Report

,

Crown Castle

(CCI) - Get Report

,

American Tower

(AMT) - Get Report

and

SpectraSite

(SSI) - Get Report

are the names to look at.

Of the four, Cramer said Global Signal is best of breed. The company also sports a 4.2% dividend. Crown Castle has seen recent insider selling by management, he said.

American Tower and SpectraSite, meanwhile, are in the middle of merging. And Cramer said that there is no need to do merger arbitrage. At the end of the day, Cramer said that the cell-phone tower business is a really good one. But "Global Signal is best in show."

Boy, Oh Boyd

Finally, Cramer spoke with

Boyd Gaming

(BYD) - Get Report

CFO Ellis Landau via telephone. On Tuesday night, the company posted mixed second-quarter results -- its earnings topped expectations by a penny, but sales were below forecasts. On Wednesday, shares fell more than $4 a share. Landau said that Boyd reported a great quarter and doesn't know why the stock was down so much on Wednesday.

The company also forecast third-quarter earnings of 53 cents to 56 cents a share, ahead of the 52 cents that analysts polled by Thomson First Call had been expecting. After listening to Landau's take on the quarter, Cramer said that he believes "the stock is right for a buy here," especially with the stock down $4.

'The Lightning Round'

Bullish

Cramer was bullish on:

Schering-Plough

( SGP),

Grainger

(GWW) - Get Report

,

Corning

(GLW) - Get Report

,

Apple Computer

(AAPL) - Get Report

,

Engineered Support Systems

(EASI) - Get Report

,

Chicago Mercantile

(CME) - Get Report

,

Wisconsin Energy

(WEC) - Get Report

,

Iris International

( IRIS),

Leucadia National

(LUK)

,

Great Plains Energy

(GXP)

,

Biogen Idec

(BIIB) - Get Report

,

Electronic Arts

( ERTS),

Seagate

(STX) - Get Report

,

BEA Systems

( BEAS),

Urban Outfitters

(URBN) - Get Report

,

Garmin

(GRMN) - Get Report

,

Sirf Technology

( SIRF) and

Churchill Downs

(CHDN) - Get Report

.

Image placeholder title

Bearish

Cramer was bearish on:

Anheuser-Busch

(BUD) - Get Report

,

Skyworks Solutions

(SWKS) - Get Report

,

Charles & Colvard

(CTHR) - Get Report

,

Las Vegas Sands

(LVS) - Get Report

,

Miva

( MIVA),

Netlogic Microsystems

( NETL),

IBM

(IBM) - Get Report

,

ID Biomedical

(IDBE)

,

Silicon Storage Technology

(SSTI) - Get Report

,

Glenayre Technologies

(GEMS)

,

Solectron

( SLR) and

Spectrum Brands

( SPC).

At the time of publication, Cramer was long Boeing.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS by

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