RealMoney Radio Recap: Amazing Market Grace

Cramer says that especially after this great earnings season, it's 'an incredible time' to be invested in Wall Street.
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"This is an incredible time to be invested in Wall Street," Jim Cramer said on his

"RealMoney" radio show Monday.

After being involved in the market for more than 25 years, Cramer said there have only been one or two periods where he's seen the market so worth getting into, as it is now. It didn't even go down after the Democrats replaced the Republicans, which is "amazing," he said.

Other than the momentum, another reason people should get into the market is earnings, Cramer said, adding that the market had the best earnings season he's seen in seven years.

"Companies just reported their earnings and they shined," he said.

Even

Ingersoll-Rand

(IR) - Get Report

and

Yahoo!

(YHOO)

, which Cramer owns for his charitable trust,

Action Alerts PLUS, went up after reporting "stinker" quarters, he said.

There's always "tremendous buzz" when a company gets acquired in the market and the latest buzz is about

Freeport-McMoRan's

(FCX) - Get Report

acquisition of

Phelps Dodge

(PD) - Get Report

, Cramer told listeners.

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By acquiring Phelps Dodge, Freeport should get the copper exposure it needs and Phelps Dodge should in return get the gold exposure it needs, he said, adding he believes this is a "pretty good deal" for both companies.

On a separate note, Cramer called

New York Stock Exchange

(NYX)

, the "cheapest stock," which he believes people should get into.

Additionally,

Lundin Mining

(LMC)

the next copper stock market players should buy.

Allergan's Face-Lift

With the Democrats in Congress, people believe that drug stocks should get hit. But one drug stock that should go

up

is

Allergan

(AGN) - Get Report

, said Cramer.

"This is some company," he said. "I believe Allergan may be in the early stages of an incredible run and is finally starting to get the recognition it deserves."

Not only does the company have the "best silicon breast implants," but Cramer said it also has the "No. 1 method of getting rid of wrinkles" with Botox and Juviderm.

"It basically has a tremendous franchise for baby boomers," he went on to say. And while the stock is up $7 today, Cramer said he would still buy it as he believes that Allergan could go up another $12.

Allergan was recently trading at $119.55.

Moving on, he told listeners he believes that his holiday stock,

Research In Motion

(RIMM)

, should continue to go higher and that buying one stock of

Sears

(SHLD)

, which he owns for his charitable trust,

Action Alerts PLUS, down $1 to $172 today, makes sense.

Although the media and analysts will probably never apologize for keeping market players out of steel stocks with their negativity, they should, Cramer said.

The story about a glut in steel first came out in September and was started by financial services firm UBS, he said. The media picked up on it, and consequently steel stocks got "clobbered" as people sold them off.

The media didn't care about the five-to-six times earnings the group already sold for because of the "glut," Cramer said.

Now,

Oregon Steel

(OS)

, which turned out to be a "huge stock" and made people who were in it a lot of money, is getting bought, and there are not that many steel companies left.

In the end, these companies should all be taken over -- except maybe

Nucor

(NUE) - Get Report

, he said.

Cramer's Callers

MasterCard

(MA) - Get Report

is not done going up, Cramer told a caller.

"I would be a buyer of it right here, right now," he said.

Because

Motorola

(MOT)

missed its quarter a second time in a row, it has become the type of stock that Cramer finds difficult to recommend, he told his next caller.

As it is down 4% year-over-year and is "inconsistent," he suggested getting into MasterCard or the

New York Stock Exchange

instead, as he believes these stocks have a lot more to offer than Motorola.

Responding to another caller,

Alcoa

(AA) - Get Report

is "the most poorly run major American company," Cramer said.

He advised the caller to take the loss in Alcoa and move on.

Prudential

(PRU) - Get Report

is one of several companies Cramer told a caller has liked in the insurance sector because it has a very good dividend.

He also said he likes

AIG

(AIG) - Get Report

, which he owns for his charitable trust,

Action Alerts PLUS, as he considers it "the cheapest in the group."

AIG is the one to buy in this group as it should go much, much higher, Cramer said.

Although he told a listener he has been behind

Ford

(F) - Get Report

since it got to $7, Cramer said he is worried about this stock as "it has a bad balance sheet problem."

Cramer said he has been "impressed" with the company's CEO Alan Mulally, but said the stock has had too big a move. If Ford reports another bad quarter, he believes it will get hammered again.

When a caller asked about

IBM

(IBM) - Get Report

, Cramer said it is a "mistake" that the stock is stalled here.

He said the stock should go to $120, but at $100, he would take some profits.

IBM was trading at $93.45 on Monday.

At the time of publication, Cramer was long Yahoo!, AIG and Sears.

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

Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here.

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