Cramer's 'Real Money' Radio Recap: Tech and Energy - TheStreet

Updated from 2:54 p.m. EDT

On his

"Real Money" radio show Thursday, Jim Cramer reiterated Wednesday's upbeat comments about technology stocks -- forecasting a "multimonth" rally for the group.

Specifically, Cramer said that tech stocks are "less sensitive" to oil prices than other sectors, suggesting the broader selloff Thursday is a result of the psychological effect of oil piercing the $60 per barrel level. Cramer favors big-cap tech, citing

Intel

(INTC) - Get Report

,

Motorola

(MOT)

,

Microsoft

(MSFT) - Get Report

and

Cisco

(CSCO) - Get Report

among the names that will provide leadership in the sector.

In response to a caller's question, Cramer said Motorola, Microsoft and

Broadcom

(BRCM)

are the companies poised to best profit from a resumption of business spending on broadband, as well as the growth of digital downloads on non-PC vehicles such as PDAs and cell phones.

"Ancillary players" that should also benefit include Cisco,

Lucent

(LU)

,

Texas Instruments

(TXN) - Get Report

,

National Semiconductor

(NSM)

,

Symantec

(SYMC) - Get Report

, and

Skyworks Solutions

(SWKS) - Get Report

, he said.

As an alternative to specific stocks, Cramer recommended the

(SHRAX) - Get Report

Smith Barney Aggressive Growth fund and the

(FSPTX) - Get Report

Fidelity Select Technology fund.

Cramer also reiterated his bullish stance on energy stocks, which he is overweight in his

Action Alerts PLUS portfolio. In response to a caller's question, Cramer was bearish on

Oceaneering International

(OII) - Get Report

-- citing recent insider sales -- but was optimistic about

Schlumberger

(SLB) - Get Report

,

Nabors Industries

(NBR) - Get Report

,

BJ Services

(BJS)

, and

Halliburton

(HAL) - Get Report

.

Additionally, Cramer believes

Chevron

(CVX) - Get Report

will ultimately outbid China's

Cnooc

(CEO) - Get Report

to win the battle for

Unocal

(UCL)

. But since Chevron will receive a $500 million breakup fee if it doesn't merge with Unocal, it's a "win-win" for Chevron even if their bid isn't successful.

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That said, Cramer stressed that "I don't like to catch falling knives," and believes now is the time to make a "shopping list" in anticipation of $60 oil being factored in to the market by early next week. "I don't look for bargains immediately," he said.

Among other stocks discussed on the show, Cramer was neutral on

Tibco Software

(TIBX)

-- "we need to see growth reaccelerate"; positive on

KCS Energy

(KCS)

-- "buy more if it comes below $15"; bearish on

Avon Products

(AVP) - Get Report

-- "I'm amazed the company is so bad at estimating its business"; bearish on

Kopin

(KOPN) - Get Report

-- "I don't want to touch this stock"; and, finally, recommended

United Parcel Service

(UPS) - Get Report

over

FedEx

(FDX) - Get Report

-- the former reaffirmed guidance Thursday after the latter's disappointing quarter and guidance.

At the time of publication, Cramer was long Intel, Halliburton and Lucent.

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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