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Cramer's 'Mad Money' Recap: Why Greece Doesn't Matter (Final)

Cramer says the bulls in the U.S. markets are charging ahead despite the sovereign debt problems plaguing Europe.
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) -- "Europe is giving us another chance to buy stocks cheap," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

He said the financial woes in Greece are an opportunity to buy U.S. stocks.

Cramer explained that while a faltering Euro and stronger dollar negatively impacts the largest of international corporations, there are far more positive things happening at home that outweigh any damage Europe could possibly cause. "If health care didn't take down stocks, Greece sure isn't," he exclaimed.

So what's going right in the U.S.? Cramer said today's terrific employment number for starters. He said the unexpected drop in unemployment claims is just what the U.S. needs, as employment fixes a whole host of economic ailments.

He also pointed out the strength in


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, which reported strength in all of its categories, which was great news for


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TheStreet Recommends

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, along with


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(AAPL) - Get Apple Inc. Report



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, three stocks which Cramer owns for his charitable trust,

Action Alerts PLUS.

There's also strength in


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, said Cramer. And that's great news for


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, another Action Alerts PLUS stock, along with

Allegheny Technology

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Precision Castparts


and a host of others.

Then there's the banks. He said the banks shed their international assets long ago, which means those stocks only care about bad loans and unemployment, both of which are finally peaking.

According to Cramer, this is all good news for

Bank of America

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JPMorgan Chase

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, two more Action Alerts Plus stocks, and


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, and

Wells Fargo

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Finally, Cramer said



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strong earnings bode well for the rest of technology.

With so much going right in the markets, Cramer said it's wrong to sell U.S. stocks based solely on news from overseas. Things are just going too good here at home to ignore the opportunities.

Dangerous Stocks

In the Thursday "Sell Block" segment, Cramer took aim at vitamin giant

Vitamin Shoppe

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and its online rival,



, two stocks which he called extremely dangerous.

Cramer said both names are losers, with their stocks priced for perfection and very little room to grow. He said that on the surface, a $25 billion vitamin market and an aging America might seem like the perfect storm for these two vitamin giants. But, he noted, things aren't always as they appear.

Cramer said that Vitamin Shoppe, which operates 400 stores in 37 states is stretched very thin, and has little room left to expand. The company is nearing saturation and the stock has no catalyst to drive it higher, especially with its current 18 times earnings multiple.

Cramer had a similar outlook for Vitacost, a large online retailer of vitamins. After coming public last September, the company's founder sold every one of his 4.8 million shares just this week. "Kind of makes you think," asked Cramer.

Plus, with no differentiation from other online retailers, Cramer said Vitacost is just waiting to be crushed by larger players like

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Cramer said that not every story out there is a great one, and in the case of vitamins, neither story looks to be investable.

Regional Bank Play

"The regional banks are back in style in a huge way," Cramer told viewers as he recommended

First Horizon

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, a regional player in Tennessee, as the next big thing in banking.

First Horizon currently operates 180 locations in Tennessee, but is looking to expand as it shores up its balance sheet and repays its government TARP loans. Fortunately for First Horizon, right next door is Georgia, a state riddled with bank failures. Cramer said First Horizon is the perfect acquirer for FDIC-assisted takeovers in Georgia, and such a strategy would make the bank a solid regional powerhouse.

Cramer said that First Horizon is not an "A" student, but more like a "C+" student heading towards a "B+" on their report card. The company has $12.8 billion in deposits and a net interest margin of 3.2%, which is respectable. First Horizon also has only a 2.6% rate of bad loans in its core regional business.

While First Horizon may not be a perfect bank, Cramer said its well capitalized and has only seven analysts rating the stock a buy, with 17 giving it a hold, leaving lots of room for upgrades.

"The worst is over," said Cramer, and that's why First Horizon could be the hottest regional bank out there.

Mad Mail

Cramer told a viewer that with the price of natural gas falling, it's a buying opportunity for natural gas companies like

Chesapeake Energy

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, even though that company is not his favorite in the group.

Lightning Round

Cramer was bullish on

Vulcan Materials

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China Unicom

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Teva Pharmaceutical

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Tenet Healthcare

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Qwest Communications



EQT Corp

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He was bearish on


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Select Medical Holdings

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American International Group

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Sprint Nextel

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Apollo Investment

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First Solar

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Closing Comments

In his closing comments, Cramer said the


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is a keeper for the long term, even if in the short term, the stock may have run a little too far.

-- Written by Scott Rutt in Washington D.C.

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC


Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by

clicking here.

For more of Cramer's insights during the Lightning Round, clickhere


At the time of publication, Cramer was long Apple, Intel, Qualcomm, Honeywell, Bank of America, JP Morgan, Teva Pharmaceutical, China Unicom.

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.