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"Today's rally was a huge victory for the bull," an elated Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

He said the bears have once again been torn to pieces, and we owe it all to one company,


(INTC) - Get Report


Cramer said Intel single handedly ignited the rally in the


and dispelled the long standing belief that nothing in tech was working. He said the signs of Intel's coming blowout quarter were everywhere, but no one was listening. Despite the chipmaker's positive comments in late May and bullish indications from other semiconductor makers, no one believed the rally in tech, until today.

Cramer said Intel's earnings numbers were a true thing of beauty, with stronger sales and earnings. He said the best way to play the Intel news is still with Intel, as many analysts are still too bearish on the company. Cramer said things will only get better for Intel from here, as the company's maturing product lines improve their gross margins and collide with a long overdue upgrade cycle.

Cramer also expects a blowout quarter from


(AAPL) - Get Report

, as that company rockets ahead with strong notebook and iPhone sales.

Cramer said he'd also be a buyer of component maker


(QCOM) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS.

Also on Cramer's list of tech favs was



, along with two other Action Alerts Plus names,


(HPQ) - Get Report



(CSCO) - Get Report


Riding Intel's Coattails

Investors who missed Intel's blowout upside surprise need to take a serious look into



, Cramer told viewers.

He said that like Intel, all of the signs of a strong quarter are there, investors just need to look in the right places.

Cramer returned to the



conference call from last week, during which the company said that prices of NAND flash memory, which is used in smartphones and portable devices, were up 75% in some cases. Cramer said that with Intel confirming the demand for tech is real, the comments from Novellus are screaming "buy Sandisk," the world's largest maker of NAND flash chips.

Cramer said Sandisk is hated by the markets, as evidence by Morgan Stanley raising earnings estimates for the company but not raising its rating on the stock. The problem, he said, stems from last year's rejected takeover offer at $26 a share, when the stock was trading at just over $13. Back then, Cramer added Sandisk's CEO to his Wall Of Shame, but said the company has since redeemed itself.

Cramer said the facts remain that NAND flash is in bull market mode, and Sandisk is the only way to play it. The company is seeing higher demand, is improving its manufacturing and its margins, and is a must have investment for the coming tsunami in mobile Internet devices.

Outrage of the Day

Cramer sounded off against the pending bailout for

CIT Group

(CIT) - Get Report

, as he added the company's CEO, Jeffrey Peek, to his "Wall Of Shame" list of the worst CEO's.

Cramer called the government's pending aid package outrageous, saying that the company should be left to fend for itself as it poses no threat to the country or economy. He said that Peek has been a serial destroyer of wealth since taking over at the company in 2004. Since then, shares have fallen from $37 a share to just $1.64 today.

Adding to Cramer's outrage was CIT's numerous secondary offerings of debt and stock to what he called "unsuspecting investors." Not one of these secondary offerings, he said, has even made investors a dime. He questioned how CIT's board of directors has let Peek continue to destroy the company year after year without ever intervening.

Am I Diversified?

Cramer talked with callers about their portfolios. The first caller's portfolio included:





(WMT) - Get Report


American Oriental Bioengineering

( AOB),


(C) - Get Report



(ORCL) - Get Report


Cramer said Yahoo! and Oracle together are a problem and suggested selling Oracle.

The second caller's top holdings included

JPMorgan Chase

(JPM) - Get Report



(CELG) - Get Report



(COP) - Get Report



(QCOM) - Get Report


Bristol-Myers Squibb

(BMY) - Get Report


Cramer blessed this portfolio as diversified.

The third caller had


(NOK) - Get Report





Comfort Systems

(FIX) - Get Report


Wells Fargo

(WFC) - Get Report


Del Monte Foods

( DLM) as their top five stocks. For this portfolio, Cramer said "perfect diversification."

Lightning Round

Cramer was bullish on

China Unicom

(CHU) - Get Report



(MO) - Get Report



(T) - Get Report


Peabody Energy

(BTU) - Get Report


Allos Therapeutics

( ALTH) and

TEPPCO Partners

( TPP).

He was bearish on

A-Power Energy

( APWR),

Reynolds American



Tata Motors

(TTM) - Get Report


Patriot Coal

( PCX),

Toll Brothers

(TOL) - Get Report


Tim Hortons


.Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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At the time of publication, Cramer was long Qualcomm, China Unicom, JPMorgan Chase, ConocoPhillips, Bristol-Meyers Squibb, Wells Fargo.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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 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, 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.