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TJX Companies ( TJX), which owns T.J. Maxx and Marshalls, is as cheap as its clothes, said Jim Cramer on his "Mad Money" TV show Monday, and he wants you to buy the stock.

Cramer has been bearish on retail, but said it's time to start looking for retailers that have bottomed. TJX fits the bill.

TJX lowered earnings estimates last week, which is bullish for the stock, he said, because TJX now has reasonable earnings estimates it can meet or beat. That's the first step for a stock to bottom, he said.

What's more, the company is hosting a conference call Tuesday to update its strategic outlook. If the call goes well, Cramer believes it could get the stock moving.

Third, TJX should benefit from a slowdown in the economy because people tend to shop more at T.J. Maxx and Marshalls when they don't feel as affluent.

Fourth, the company's former CEO, Ben Cammarata, and former senior executive, Carol Meyrowitz, are back running the company. Cramer is a big fan of both.

Finally, Cramer believes TJX should be able to sell some of its standalone retail stores such as Bob's Stores, A.J. Wright or HomeGoods to an "eager and willing private-equity market."

TJX is a "safe and smart" buy here, said Cramer. The company's shares ended the regular trading session Monday at $21.60.

Commenting on online retailers, Cramer said he would be buying Amazon.com ( AMZN), thinking it will do better because of high gasoline prices. Cramer would look to sell Amazon into potential future upgrades of the stock.

As for traditional retailers, Cramer likes Kohl's ( KSS) and J.C. Penney ( JCP) because they're down so much. He also likes Wal-Mart ( WMT) because it is too low, he said, adding he wished he owned the stock.

BioCryst Pharma as Bird Flu Play

Cramer is bullish on BioCryst Pharmaceuticals ( BCRX) for a trade because of the company's very early-stage vaccine for avian flu, Peramivir. The stock is risky, he said, because Peramivir is only in preclinical testing, and the drug has already been through an unsuccessful phase III study in 2003, said Cramer. Nevertheless, trading is all about the buzz, he said. "Wall Street's a fashion show. You want to buy the fashions before they become fashionable. When you see everybody wearing it, you want to sell it."

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