When people look at stocks such as
, which are going up because of deals the companies made, they wonder how they can get into similar stocks, Jim Cramer said on his
"RealMoney" radio show Tuesday.
One such similar stock is
"Arena is not done going up," Cramer said. "It has done remarkable work against diabetes and obesity, and it could get a takeover bid tomorrow."
"With a company like this people have a lot of ways to win," he went on to say. "It feels like a lot like Icos."
Another way to play of mergers and acquisitions and make money every time a company makes a bid is to buy companies that do M&A work, Cramer said.
Some M&A- related companies he recommended are
, and most importantly
, which he owns for his charitable trust,
Action Alerts PLUS.
Goldman Sachs is down today, which a gift, Cramer said.
In addition, the company he likes best for speculation is
Level 3 Communications
, which is buying
People should own Level 3 as a way to play the expansion of the Web, Cramer said.
Market players should also consider getting into tech stocks, which are down today, he added. The opportunities to get into these stocks are "few and far between," and we are getting one of these opportunities right now, Cramer said.
When the market goes higher, it is "terrific" to own stocks, but what about when market goes down? he asked.
To protect oneself from the downside, Cramer advised buying stocks that have big dividends or ones that have buybacks. It won't feel so bad if you have this protection, he said.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
At the time of publication, Cramer was long Goldman Sachs.
Jim 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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