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RealMoney Radio: Qwest for Fire

Cramer says that the company is truning around fast; he also offers other speculation plays.

Focusing on small dollar stocks, "the need to speculate is ingrained in us and important,"Jim Cramer said on his

"RealMoney" radio show Friday.

After market players have closed their 401k or IRA accounts and own a house, they should speculate part of their Mad Money portfolios, he said.

"If you have five positions, one of them can be a speculative stock," Cramer said.

His favorites are

Qwest Communications

(Q)

,

Level 3 Communications

(LVLT)

and

Arena Pharmaceuticals

(ARNA) - Get Arena Pharmaceuticals, Inc. Report

, he said.

Qwest is turning around fast, and Cramer said he wants people to get into it before it reports on Halloween.

"I believe it's a winner," he said. "It's gaining share and growing again. These phone companies are cash machines, and I think you should be in Qwest."

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In addition, Cramer believes Level 3 -- a play off the shortage of broadband -- could double as people begin to realize its potential.

He also likes Arena as a speculative stock, as it has "a limited downside and a lot of upside," he said.

"Wall Street thrives on numbers and research," Cramer said.

Today the number for the gross domestic product came out as 1.6%, signifying a slowing economy. Cramer said that and although this may not sound good, it is.

"This is what we needed to see to keep the

Fed

at bay," Cramer 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.

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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