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Sales of Apple's ( AAPL) iPod nano were huge this weekend in its debut on the market, Jim Cramer said on his "Mad Money" TV show Monday. That means good things for PortalPlayer ( PLAY), which makes audio chips for the device.

Thomas Weisel Partners raised year 2005 sales estimates Monday for the iPod to 10 million units, up from 7 million to 8 million units. That means upside for PortalPlayer, said Cramer.

The next big thing on the horizon, Apple's video iPod, also is likely to use PortalPlayer's chips, said Cramer, although some believe the contract will go to Sharp. Should that happen, said Cramer, he would simply ring the register.

Cramer said insiders have been selling PortalPlayer's stock but Cramer is not concerned. Insiders "sell for a million reasons," he said, and stock sales by insiders are rarely a reliable indicator of where a stock is headed.

Cramer said there is no reason to buy PortalPlayer immediately if you're cautious, as the stock has had a bit of a run. And, if Cramer had bought the stock before its run, he probably would be taking some profits now. However, he believes the stock is still headed higher.

In response to a question about disk-drive makers Seagate Technology ( STX) and Komag ( KOMG), Cramer would sell Seagate and doesn't want anything to do with Komag.

Commenting on flash-memory plays, Cramer likes Lexar Media ( LEXR) and SanDisk ( SNDK), but don't overlook Silicon Motion Technology ( SIMO), he said.

Foster Wheeler the Real Deal

Cramer is bullish on Foster Wheeler ( FWLT) even though the stock already is up nearly 275% in the last year. The company has dealt with its asbestos liability, said Cramer, and business is roaring. The company is in three bull markets, he said: oil engineering and construction, power generation facility construction and the biotech plant construction. Foster Wheeler has no Wall Street analyst coverage, which is another reason Cramer likes it.

A caller asked if other asbestos-plagued companies might be worth buying. Cramer said companies such as Federal-Mogul ( FDMLQ), Owens Corning ( OWENQ) and W. R. Grace ( GRA) are "not as far along in the healing process." He said he would rather stick with companies that are totally healed from asbestos, so that there are no surprises.

Coal in Stock-ing

Commenting on coal plays, Cramer said his favorite was Fording Canadian Coal Trust ( FDG) and that he liked Sasol ( SSL) as a coal-to-gas technology play.

The Shine on Southern Peru Copper

Cramer is breaking his discipline of owning best-of-breed stocks and is recommending Southern Peru Copper ( PCU), "the absolute worst of breed in the copper industry," he said.

Copper is experiencing a bull market, which is being driven by tight supply and "gigunda" demand from China, said Cramer. But, that's not reason enough for Cramer to recommend Southern Peru Copper.

The additional catalyst in favor of Southern Peru Copper, said Cramer, is two of its competitors, Asarco and Falconbridge ( FAL), are having problems and "can't deliver the goods," he said. Cramer's favorite play in copper is Phelps Dodge ( PD), but Southern Peru Copper should benefit as well.

Loving Thy Nabors

Nabors Industries ( NBR) CEO Gene Isenberg joined Cramer by telephone on the show. Cramer asked Isenberg about the orders Nabors is seeing from Saudi Arabia.

Isenberg said his company was the biggest driller in Saudi Arabia, Yemen and North Africa.

Cramer asked how many customers are locking in rates for drilling rigs.

"Quite a few," said Isenberg.

Cramer asked Isenberg if he senses a top in oil is near.

"Ultimately that probably will come," said Isenberg. "But, nothing is visible, yet," adding that Nabors has "important customers committing, in essence, for five years from now."

Cramer summed up the interview saying Isenberg has not been afraid before to speak up when he sees a top. "He did not say that to us tonight. That stock's going higher."

Harrah's Poker Bet

Gary Loveman, Harrah's Entertainment ( HET) CEO, also joined Cramer to discuss the weakness in gaming stocks.

Loveman said his company had been hurt by the combination of higher gasoline prices and hurricanes Katrina and Rita.

Cramer asked how the integration of Harrah's recent acquisition of Caesars was going.

Loveman said the full integration should be complete by the end of the first quarter.

Cramer asked what the popularity of poker means to Harrah's.

Loveman said poker's popularity signals a growing interest in gambling and "holds the promise for a tremendous boom in our business if we figure out how to deliver it properly through as many distribution points as we can."

Cramer summed up the interview saying gaming stocks are in a "show-me situation" right now, and he wouldn't buy them until there is proof things have improved.

Lightning Round

Bullish

Cramer was bullish on Occidental Petroleum ( OXY), Sears Holdings ( SHLD), Johnson Controls ( JCI), FX Energy ( FXEN), Ameren ( AEE), Northrop Grumman ( NOC), L-3 Communications ( LLL), Alliant Techsystems ( ATK), General Dynamics ( GD), Safeway ( SWY), Whole Foods Market ( WFMI), Charles Schwab ( SCH), E*Trade Financial ( ET), Ameritrade ( AMTD), Intel ( INTC), Edge Petroleum ( EPEX), Ethan Allen Interiors ( ETH), American Standard ( ASD), Grey Wolf ( GW), Abraxas Petroleum ( ABP), Schlumberger ( SLB), Nabors Industries ( NBR), Halliburton ( HAL) and Sysco ( SYY).

Bearish

Cramer was bearish on Payless ShoeSource ( PSS), 3M ( MMM), Distributed Energy Systems ( DESC), NGAS Resources ( NGAS), Arch Capital Group ( ACGL), Medtronic ( MDT), Fifth Third Bancorp ( FITB), Compuware ( CPWR), Leggett & Platt ( LEG), Bank of America ( BAC) and Sovereign Bank ( SOV).


Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.

1. Pigs Get Slaughtered 2. It's OK to Pay the Taxes
3. Don't Buy All at Once 4. Buy Damaged Stocks
5. Diversify to Control Risk 6. Do Your Homework
7. Don't Panic 8. Buy Best-of-Breed
9. Defend Some Stocks 10. Don't Bet on Bad Stocks
11. Own Fewer Names 12. Cash Is for Winners
13. No Regrets 14. Expect Corrections
15. Know Bonds 16. Don't Subsidize Losers
17. No Room for Hope 18. Be Flexible
19. Quit When Execs Do 20. Patience Is a Virtue
21. Be a TV Critic 22. When to Wait 30 Days
23. Beware the Hype 24. Explain Your Picks
25. Find the Bull Market
Check back for more of Cramer's Rules
At the time of publication, Cramer was long Alliant Techsystems, Fording Canadian Coal Trust, Intel, Halliburton Sears and Occidental Petroleum.

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 ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. 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." Cramer appreciates your feedback and invites you to send him an email by clicking here.