Skip to main content

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

Jim Cramer is not about to give up on oil or natural gas stocks despite the selloff Wednesday he said on his "Mad Money" TV show.

In fact, Cramer is recommending Appalachian basin natural gas producer

Equitable Resources

(EQT) - Get Free Report


Chesapeake Energy

(CHK) - Get Free Report

announced Monday

it will acquire fellow Appalachian basin natural gas producer Columbia Natural Resources.

Cramer believes Equitable is a likely takeover candidate because, of the companies he views as possible targets, Equitable has the largest proven natural gas reserves in the region.

Two other companies operating in the Appalachian basin Cramer likes but which he believes are less likely to be takeover targets are

Range Resources

(RRC) - Get Free Report


Cabot Oil & Gas


. Both are excellent companies, said Cramer. However, Range Resources has only about 65% if its natural gas reserves in Appalachia, and Cabot Oil & Gas has only about 46% of its reserves in the region.

NGAS Resources

( NGAS) is another good natural gas company operating in Appalachia, said Cramer, but it is "too darn expensive," he said.

Finally, Cramer threw in the mix

Consol Energy

(CNX) - Get Free Report

, but said Consol is too big to get taken over. It also has reserves of high-sulfur coal, of which Cramer is not a fan.

Storm Benefits for Thor, Oshkosh

Cramer is bullish on mobile home/RV manufacturer

Thor Industries

(THO) - Get Free Report

for a trade. The Federal Emergency Management Agency has announced plans to purchase 70,000 mobile homes to house victims of Hurricane Katrina, said Cramer. Thor has the biggest market share of mobile trailers and is sure to benefit, he said. At Wednesday's regular session closing price of $32.82, the stock is still about where it was when FEMA made the announcement, Cramer said. "You need to buy it for a trade."

Cramer is also bullish on

Oshkosh Truck

(OSK) - Get Free Report

for a trade. Oshkosh makes emergency command vehicles and concrete mixers. Cramer predicts the federal government will purchase plenty of emergency command vehicles to be "totally prepared for the next disaster." Oshkosh's concrete mixer business should also "benefit handsomely from

Congress' ... pork-laden highway bill."

High Scores for Digene's New Test

Health care diagnostic company


( DIGE) has a relatively new test on the market that is the only FDA-approved test for human papillomavirus (HPV), which causes 99.7% of cervical cancer in the U.S., said Cramer. The most widely used test for HPV, the pap smear, isn't great at detecting the virus as it only detects HPV about 79% of the time, he said.

Cervical cancer is easy to prevent, said Cramer, if it is caught early. Thus, he believes, Digene's test, which has only captured about 12% of the market, will become standard by the end of next year.

Boding well for the test's prospects is the fact that big insurance companies have already started paying for the test. Additionally, private practices and labs also generally like tests like Digene's HPV test because such tests are good for margins.

Cramer said Digene isn't expensive based on current estimates, which he believes are conservative. Cramer believes the stock "deserves to trade a whole lot higher."

Stock Offering Ideas: Vonage, Caribou, Charter

In response to a question about VoIP company,


, which is planning to come public, Cramer said Vonage's IPO will be a hot deal. He would buy stock in the offering and then sell it as soon as it opens for trading. Vonage's business is being destroyed, he said, by


(EBAY) - Get Free Report

, which bought Skype.

Commenting on news after the close, Cramer said


(SBUX) - Get Free Report

reported a 10% rise in comparable store sales. Rather than buying Starbucks, though, which was up big in after-hours trading, Cramer recommends

Caribou Coffee

( CBOU), which sold shares in an initial public offering Thursday at $14. The stock ended the regular trading session Wednesday at $10.89.

"You know what?" asked Cramer. "It's not a bad company. I need you to pick up some Caribou, and I need you to pick it up now," he said.

Commenting on a planned stock offering by

Charter Communications

(CHTR) - Get Free Report

, Cramer said, "If you buy this, I forbid you from ever watching me again. ... Charter Communications: It should not be bought!"

Lightning Round


Cramer was bullish on


(COP) - Get Free Report



( MOT),

Micron Technology

(MU) - Get Free Report


Charles Schwab

( SCH),


(AMTD) - Get Free Report


E*Trade Financial

(ET) - Get Free Report


Lexar Media

( LEXR),


(GOOG) - Get Free Report


PetroQuest Energy






Skyworks Solutions

(SWKS) - Get Free Report


Ultra Petroleum



Marathon Oil

(MRO) - Get Free Report



Cramer was bearish on


( KSE),


(NOK) - Get Free Report




International Rectifier



West Marine



Research In Motion

( RIMM),

Red Hat

( RHAT),

Knight Capital Group



American Superconductor

(AMSC) - Get Free Report



(CREE) - Get Free Report


Newmont Mining

(NEM) - Get Free Report


Continental Airlines

(CAL) - Get Free Report


Electronic Arts

( ERTS),

New York Community Bancorp

( NYB),


(ATVI) - Get Free Report


Take-Two Interactive

(TTWO) - Get Free Report


Wells Fargo

(WFC) - Get Free Report


Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by

clicking here

. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.

At the time of publication, Cramer was long Motorola.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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." Cramer appreciates your feedback and invites you to send him an email by

clicking here