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"This week has seen the revenge of the stock-market nerds," Jim Cramer told the viewers of his "Mad Money" TV show Friday.
Dress in thick-rimmed glasses and donning a pocket protector, he said that several shunned stocks on Wall Street saw a boost this week that will likely be very short- lived.
Cramer said stocks like
, which he also owns for his
Action Alerts PLUS portfolio,
have ignored for weeks by Wall Street, but not this week.
He said fears that increasing gas prices will crimp consumer spending have caused a short-term rally in these defensive names.
But despite rises in these stocks, along with the likes of
Procter & Gamble
, Cramer said big mutual fund money is set to hit the markets as early as Monday, and will send these names lower.
That's because the rally in oil, tech and the financials will resume, and the unloved "nerds" will once again be cast aside for the more popular stocks, he predicted.
For "Speculation Friday," Cramer scoured the financial sector to find a suitable replacement for
Bank Of America
, a stock which he owns for his charitable trust,
Action Alerts PLUS, and his speculative bank stock recommended back in March.
Cramer said BofA has arisen 186% since he recommended at $4.78 a share, the stock has risen 186%. The recommendation was based on a recovery in both housing and in the financials, he said, both of which have now taken hold. Bank Of America is no longer a speculative stock, he said.
is now the best speculative stock in the financial sector. He said that the stock has been weighted down by fears the bank may not be able to raise suitable capital. However, the fear has now past since the company raised $324 million in a recent secondary offering, he said.
Huntington was just upgraded by Goldman Sachs, due in part to the secondary offerings, but also due to improving fundamentals, said Cramer. The bank's new CEO is aggressively cutting costs to help shore up its balance sheet.
There is also monumental insider buying at Huntington, said Cramer, with six insiders buying huge amounts of shares. Cramer said there's only one reason for executives and directors to buy their company's stock, and that's because the they think it's going higher.
A Third-Tier Play
"Not all bull markets are created equal," Cramer told viewers.
For weeks now, Cramer has been explaining how the gigantic new product cycle of smart phones and the mobile Internet will be a windfall for leaders like
Research In Motion
Recently however, Cramer's also been recommending smaller, lesser known tech stocks that will also benefit from the huge wave of new devices on the horizon.
He recommended component maker
as the next stock that fits that bill. He said this once $50 stock, which is now trading at $5.78, is poised to head higher.
TriQuint is at best a third-tier semiconductor maker, said Cramer, with very little proprietary technology and tons of competition. However, the company makes three components for Apple's iPhone, a product which will be selling like gangbusters when it's introduced in China and re-introduced here in the U.S. at just $99.
Cramer said the product cycle in smartphones, and other mobile devices, is so large that even the commodity plays, like TriQuint, will receive a boost.
Cramer added Glenn Tilton, CEO of
, the parent of United Airlines, to his "Wall of Shame" list of the worst CEOs.
Cramer said that while the airline business is just bad overall, Tilton's overseeing an 89% decline in UAL stock is exceptionally bad.
Cramer was bullish on
Satyam Computers Services
He was bearish on
Melco PBL Entertainment
Las Vegas Sands
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At the time of publication, Cramer was long Abbott Labs, Bank of America.
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."
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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.