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, Jim Cramer told "Mad Money" TV viewers Wednesday, a company that he always says to stay away from.
"If you do want to go out and find an absolutely worst of breed pharmacy, you're always going to end up with Rite Aid," Cramer said. "But when the bull market is upon us, we break the rules and buy worst of breed."
Cramer said that the "unquestionable bull market in the pharmacies" is what makes Rite Aid right.
"I hate Rite Aid. ... I just want you to buy it," he said.
It's sexy now for all the same reasons he's been recommending best of breed
, and it's all about Medicare Part D, Cramer said.
This is because the new legislation encourages people to buy generic drugs, which translates into more money for pharmacies as the government drops $400 million on drug spending, Cramer said.
So why buy Rite Aid when there are best of breed players out there? You've missed nothing with Rite Aid, he said, adding that it's extremely cheap next to the competition.
Rite Aid closed Wednesday's regular session at $3.89.
And Rite Aid had positive same-store sales for the first time, Cramer said, adding that "you've got a stock here for the first time in a long time that might rally for good reasons."
Moreover, a Goldman Sachs analyst has upgraded the stock, he said.
Take a Gamble
We have no choice but to go where the money is ... and that means going to China, Cramer said.
But, as always, he said to steer clear of Chinese companies and to buy American companies that profit off the quirks of the Chinese. In this case, he said it's time to make some money from the fact that the Chinese are gambling again.
While gambling isn't kosher on the mainland, it's the biggest industry on Macau, the "Las Vegas of the east."
The little city off the southern coast of the China belonged to Portugal until 1999, and like Hong Kong, became part of the People's Republic but has an independent judicial system, Cramer said.
He pointed out that 18.7 million tourists went to Macau in 2005 -- more than went to Germany -- and that the city expects 35 million a year by the end of the decade.
And 50% of Macau's tourists come from mainland China, Cramer said.
The stock play on this trend is
Las Vegas Sands
, one of the first casino and entertainment companies to hit the city.
"It's giving the people of China all the Western bourgeois decadence they could desperately crave," Cramer said.
Plus, Las Vegas Sands makes a large portion of its profits in Macau already, a city where the house makes 10 times what it does in Vegas, he added.
Always on a bull hunt, Cramer told viewers that pipe is on fire.
There's demand for water piping, oil and natural gas pipelines -- seemingly unrelated stories that come down to one thing: the fact that people want a lot of pipe, he said.
In previous shows, he mentioned
as a pipe play. But he wanted to focus on water pipes Wednesday, because only 2.4% of the water on Earth is fresh water and less than 1% is available for human use.
He said that there are more than a billion people on Earth with no access to clean water and that there's a bull market around the corner in water pipes.
He said that
is a play on water pipes, because it is acquiring a water pipe business; and Cramer also said to take a look at
The latter company is a small pipe-repair company that sells water piping, too.
co-founder and CEO Colin Angle joined Cramer to discuss the company's growth strategy.
Angle said that it's not about taking away market share from competitors, it's about creating an entirely new industry with innovative products.
Bomb-dismantling robots are expected to be an incredible business for iRobot, Angle said, adding that the company has shown the military that "robots can get the job done" and that the product "is saving lives."
The military has deployed 300 PackBots in Iraq and Afghanistan to assist in reconnaissance missions and roadside bomb detection.
Cramer was bullish on:
American Science & Engineering
Cramer was bearish on:
Internet Initiative Japan
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At the time of publication, Cramer was long Ameritrade, Halliburton and Southern Copper.
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