On the day that Internet-search company
closed above $300 for the first time, Jim Cramer said on
"Mad Money" that the stock has more room to rise.
"The bottom line is Google is not done," Cramer said. He said Google had a "weigh-station stop" at $300, but he believes the stock will reach $350 a share. "Google is cheap," he said. "Stocks trade on growth. And there is no company that has the growth that Google has."
In response to a question from a caller, Cramer said he thinks "many people are selling
to buy Google." He also spoke positively about
, saying that "in the second half of the year tech has always come back."
However, Cramer was downbeat on
, saying it wasn't the tech stock to own.
Away from the technology sector, Cramer said he was positive on
St. Jude Medical
, a pending spinoff from
. With Treehouse, he recommended investors wait for three days after the stock goes public to buy it, because at the outset the shares could see forced selling by money managers who track the
Another caller asked if she should consider
, but Cramer said
was better. "Those who want a beverage company should look no further than Pepsi," he said.
In the lightning round, Cramer said he liked
( OVEN) and
Also getting upbeat comments were
Cramer offered bearish opinions on
Archer Daniels Midland
Nordic American Tanker
Additionally, Cramer said he still likes the homebuilders, including names like
Friday, June 24
Technology shares are poised to rally while oil and health care stocks are probably "done going down" after a two-day drubbing that lopped 2.7% off the
, Jim Cramer said on
"Mad Money" Friday night. Cramer warned against energy-reliant cyclical companies.
"The last two days, technology did better than cyclicals. That will be the pattern from here," Cramer said. "I switched my plan this week. I'm tired of making money in retail. It's time to take that money and put it in technology."
Cramer said too much optimism brought down the market this week as psychology got ahead of fundamentals.
"The market is getting killed because there's too many bulls. When everyone's so bullish, there's nobody left to convert," he said. "Everyone who wants to be in, is already in. The shorts were forced to cover earlier. They can't be the safety net that they could be earlier."
Still, the action in some sectors is better than others.
"We started seeing at the end of the week that companies that don't use a lot of oil were bottoming while companies that do
To harvest the coming upside, Cramer told viewers to "stop whining" about IT outsourcing and consider buying companies that can sell technology services cheaply, particularly ones based in India.
The business model works in a global economy because "wherever there are phone lines, you can outsource brainpower." Cramer prefers India to China because its information services infrastructure is already mature and the country doesn't have as many political headaches.
Cramer highlighted three names in the space,
"Infosys is the pure play and it's the one I would run with," he said. He noted management problems have left Wipro cheapest on a price-to-earnings basis because of management trouble, and said Cognizant might be too levered to the financial sector.
"Infosys is cheaper. I still think Cognizant is going up, I just think Infosys is going up more," Cramer said. "That said, I'd buy either hand-over-fist on any kind of major pullback."
In pharmaceuticals, Cramer highlighted
( DNA) and
as possible beneficiaries of new research showing chemotherapy is more effective in non-small cell lung cancer patients than previously believed.
While neither have obvious revenue streams in chemo, both have cancer candidates (Taxotere at Sanofi and Tarceva and Avastin at Genentech) that could see increased referrals in the event of more chemo treatments.
"When it comes to cancer, these drugs act like good little socialists. It's all about cooperation." Cramer said he'd "back up the truck" on Genentech.
Cramer was bearish on drug companies
( CEPH), which recently signed a deal to market an anti-alcoholism treatment.
In the lightning round, Cramer was upbeat about
Procter & Gamble
He recommended selling
( ABRX) and
June 23 'Mad Money'
"Mad Money" Thursday, Jim Cramer said the market had a "first-class panic" Thursday, featuring a 166-plus point decline in the
Dow Jones Industrial Average
. "The market is throwing a sale and it's not discriminating between what needs oil lower and what doesn't," he said in the opening monologue. "Let's discriminate and get ready to do some buying."
In a Cramer-esque version of the paired trade, the television host laid out a number of stocks that "aren't working" and should be sold and recommended corresponding names that should be bought instead.
Cramer said the market "wants out" of stocks such as Tyco -- "which needs fast GDP growth we may not have anymore" -- and wants into UnitedHealth , which helps keep health care costs down.
"People should swap out of AMR and go into Halliburton ," he said.
"Get out of Ford and into Genentech ( DNA)," he said, calling Ford above $10 "a gift."
"Sell Yellow Roadway ( YELL) -- it isn't coming back -- and buy Motorola ( MOT)."
"Sell Southwest Airlines and buy Gillette ."
"Sell CSX and buy General Mills ."
"Sell Dow Chemical and buy Walgreen's ."
"Get out of DuPont and into Bristol-Myers ."
"Bottom line -- people will sell tomorrow," Cramer predicted. "I need you to use the weakness that comes across the board and load 'em up if they're not sensitive to the economy or are in tech."
Cramer reiterated his bullish call on tech, calling it a "six-month call" vs. a daily call. "The market wants you in
, which sells at 19 times earnings," he said. "If it does go down, it's a gift."
Later in the show, he observed relative and absolute strength Thursday in tech names such as Microsoft,
. The group was "the rock of Gibraltar today ... that's a sign the buyers will come back to the
first" after the oil-related selloff ends.
In response to a caller's question about how to profit from $60 oil, Cramer recommended
and oil service companies Halliburton,
( SII). However, he later in the show recommended selling
, fearing it'll have to "pay up" for
In the Lightning Round, Cramer was upbeat about
The television host recommended selling
Southern Peru Copper
Applied Digital Solutions
Harris & Harris
International Securities Exchange
Finally, Cramer agreed with
columnist Herb Greenberg's negative stance on
At the time of publication, Cramer was long Alliant Techsystems, Intel, Lucent, Sears Holdings, Yahoo!, Halliburton, EnCana, Gillette, General Mills and UnitedHealth Group.
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
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