Click here for an archive of Cramer's "Mad Money" Recaps.

Diamond Life

Diamond sales are up 14% this year, the biggest increase in 10 years, said Jim Cramer Thursday on his "Mad Money" TV show. The best way to play it is

Anglo American

( AAUK).

Demand for diamonds is being fueled largely by economic growth in China and India. De Beers, which has about 80% market share in diamonds, is privately held. But, Anglo American is publicly traded and owns about 45% of De Beers.

Anglo American hasn't been very well run in the past, said Cramer, but the company is starting to improve. What's more, in addition to diamonds, Anglo American also has exposure to hot natural resources such as coal and in-demand metals such as copper, gold and platinum.

Cramer continues to be bullish on the "mineral supermarkets" such as

BHP Billiton

(BHP) - Get Report

and

Rio Tinto

( RTP), which he calls the "

Safeway

"

(SWY)

and "

Albertson's

"

(ABS)

of the mineral world. But, Anglo American, he says, "is the

Whole Foods

( WFMI) of the mineral group."

Subsea and FMC

Cramer is bullish on

FMC Technologies

(FTI) - Get Report

, which represents the future of oil drilling, said Cramer.

The oil-service company makes subsea trees and high-tech horizontal drilling systems, which save oil companies money by not having to reposition their floating platforms each time they want to drill a new well.

There are lots of companies that make horizontal drilling platforms, said Cramer, but FMC has the best technology. The stock is only up 25% for the year because it has been "overlooked," said Cramer, making it an even more attractive buy.

Cramer is also still bullish on

EnCana

(ECA) - Get Report

, saying the company has the "best land rights" for natural gas. He thinks the stock "could go to $65 if natural gas goes to $15."

EnCana ended the regular trading session Thursday at $57.48.

Commenting on

McDermott

(MDR) - Get Report

, Cramer said the stock is "so right," adding that it is an "unbelievably bad company whose time has finally come."

He thinks the stock has "12, maybe 15 points just to catch up with

Halliburton

(HAL) - Get Report

. If it comes back to $32, I'll do a 'mon back*," he said.

Finally, in response to a question about liquefied natural gas (LNG), Cramer said he thinks the recent hurricanes in the Gulf will cause people to reconsider the wisdom of locating LNG terminals there.

"The LNG terminal business is going to be kaput because we're not going to be able to site them," he said. That's another reason the price of natural gas will continue to go up.

Feathers for Capstone?

MarketWatch

senior columnist Herb Greenberg joined Cramer on the show to discuss

Capstone Turbine

(CPST) - Get Report

, a stock Cramer is bullish on. Cramer asked Greenberg why he is bearish on Capstone.

Greenberg started off by saying that Capstone is "not the 'ultimate' backup energy play" as some have painted it, because there are plenty of other backup energy methods such as "old gas generators, which work just as well."

Capstone has been in business 10 years and had yet to turn a profit, Greenberg said. What's more, Capstone reported "90% negative gross margins last quarter, negative cash flow and competition from the likes of

Ingersoll-Rand

(IR) - Get Report

," he said.

"What in the world is there to like about this company?"

Cramer said Capstone's backlog was up 100% since last year, for starters.

Greenberg said that while that may be true, Capstone still will need "tons of growth" to become profitable. Greenberg is skeptical of the company's promise to show positive gross margins by 2007.

"They don't tell you how they're going to get there," the columnist said.

Finally, Greenberg said the CEO of Capstone is the former CEO of

York International

( YRK), but he was only the CEO for four months.

"They fired him ... and they alleged things, including ... that he misled the board about York's earnings forecast."

Regardless of the negatives, Cramer said the company is going to report a lot of orders -- and at $3, he likes the stock. Capstone closed the regular session at $3.77.

Cramer asked Greenberg about another stock Greenberg has long been negative on --

LeapFrog Enterprises

(LF)

.

Greenberg said that he didn't have anything positive to say about the stock and that it was the most expensive stock in the toy industry. Greenberg doubts that people will pay $100 for LeapFrog's new Fly pentop computer.

Cramer said that LeapFrog is trading at a 52-week low and that he is "going to be right just because it is so hated."

LeapFrog ended the regular trading session at $14.52.

Cramer summed up the interview by saying that Greenberg is too negative and that LeapFrog is a good pick for a toy stock for the fourth quarter.

Capstone, too, is "interesting," he said, because it has been "pushed down" and "microturbines are rocking."

Grim on RIM

Cramer recommend buying the top stock holdings of

Brandywine Funds

for a "quick trade." The reason, he said, is that Brandywine has been one of the top-performing funds this quarter, and the quarter is coming to a close Friday.

Beginning Monday, top-performing mutual funds such as Brandywine will be seeing new money, which they will use to buy the stocks that have been working for them. In the case of Brandywine, that means buying

Kohl's

(KSS) - Get Report

,

Nike

(NKE) - Get Report

,

Allstate

(ALL) - Get Report

,

Weatherford International

(WFT) - Get Report

,

Chesapeake Energy

(CHK) - Get Report

,

Phelps Dodge

( PD),

Union Pacific

(UNP) - Get Report

,

Nabors Industries

(NBR) - Get Report

,

CVS

(CVS) - Get Report

and

American Eagle Outfitters

( AEOS).

Finally, Cramer said

Micron

(MU) - Get Report

reported a "monster good quarter" after the close. He would do a 'mon back on semiconductors as he believes they're "done going down."

And, Cramer is switching from a triple sell to a "don't buy" on

Research In Motion

( RIMM), saying he thinks the stock will bottom "because tech is going to do fine." RIM ended the regular trading session at $70.

Lightning Round

Bullish

Cramer was bullish on

Lowe's

(LOW) - Get Report

,

McCormick & Schmick's Seafood Restaurant

( MSSR),

Ruth's Chris Steak House

(RUTH) - Get Report

,

Sirius Satellite Radio

(SIRI) - Get Report

,

XM Satellite Radio

( XMSR),

Norsk Hydro

( NHY),

Chesapeake Energy

(CHK) - Get Report

,

Respironics

( RESP),

Amerada Hess

(AHC) - Get Report

,

Valero

(VLO) - Get Report

,

Sunoco

(SUN) - Get Report

,

GameStop

(GME) - Get Report

,

Yahoo!

(YHOO)

,

Goldman Sachs

(GS) - Get Report

,

Honeywell

(HON) - Get Report

,

United Technologies

,

Altria

(MO) - Get Report

,

Lucent Technologies

( LU),

LSI Logic

(LSI) - Get Report

,

SanDisk

(SNDK)

,

PepsiCo

(PEP) - Get Report

,

PPL

(PPL) - Get Report

,

St. Joe

(JOE) - Get Report

,EnCana and Halliburton.

Bearish

Cramer was bearish on

Home Depot

(HD) - Get Report

,

Outback Steakhouse

( OSI),

Lone Star Steakhouse & Saloon

(STAR) - Get Report

,

Krispy Kreme Doughnuts

(KKD)

,

Montpelier Re Holdings

(MRH)

,

ScanSoft

(SSFT)

,

Delphi

( DPH),

Nam Tai Electronics

( NT),

Corning

(GLW) - Get Report

,

JetBlue Airways

(JBLU) - Get Report

,

Nortel Networks

(NT)

,

Harvest Natural Resources

(HNR)

,

Anheuser-Busch

(BUD) - Get Report

and

Cree

(CREE) - Get Report

.

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

At the time of publication, Cramer was long EnCana, Yahoo!, GameStop, St. Joe, Lucent and Halliburton.

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

ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict."