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Textile Tact

A broad textile trade agreement reached by the U.S. and China this week should be a boon to U.S. synthetic-fiber maker Albany International ( AIN - Get Report), said Jim Cramer Thursday on his "Mad Money" TV show.

Albany is levered to the high-quality outdoor and outerwear market in the U.S. and is now protected from Chinese competition, he said. That means Albany should be able to sell more of its product at higher prices, said Cramer.

Albany's stock, which is near a 52-week high, is expensive, said Cramer. Nevertheless, he believes that the stock is going higher and sees Albany as an 18-month play. So, consider buying a partial position now and buying more later if the stock goes down, he said.

Cramer is not a fan of any other publicly traded U.S. textile stocks. "They're all bad companies," he said. "For a bad company in a bad spot, good news like this is not enough," he said.

In response to a question about how to play the record U.S. trade deficit announced Thursday, Cramer said he likes Toyota Motor ( TM - Get Report) and Honda Motor ( HMC) off those numbers.

Ink India

Cramer said that a recent blurb in The Washington Post quoted Treasury Secretary John Snow saying that India is making "excellent" progress in its financial and banking sectors and that Snow wants India to "open up its financial sector to foreigners."

President Bush is scheduled to travel to India during the first quarter of next year, said Cramer, adding that Bush is sure to second what Snow says about India's banks. Cramer believes that Bush's India trip will create buzz around that country's financial sector.

"Wall Street ... listens to Bush, and they always listen to buzz," said Cramer. "Why not get into India ahead of the buzz?"

Cramer recommends HDFC Bank ( HDB - Get Report) as the best way to play it. HDFC pulled back about 20% in October from its 52-week high, but Cramer believes that the stock is coming back now.

Long term, Cramer likes Indian banks for the "credit revolution" taking place in India that is seeing 30% to 40% growth in bank loans there, he said.

But, "you gotta get in soon," he said. "The Indian government still puts caps on foreign ownership when they think too many foreigners own a stock." Unless Secretary Snow is able to change that, "time is running out," he said.

In response to a question about Indian outsourcing companies, Cramer is a fan of Infosys Technologies ( INFY - Get Report) and Sify ( SIFY - Get Report). He would use any pullback to buy.

Paper Chase

MarketWatch senior columnist Herb Greenberg joined Cramer to talk about Hansen Natural ( HANS), Marvel Entertainment ( MVL) and Knight Ridder ( KRI).

Cramer asked Greenberg if he was "sticking with the negative case" on Hansen.

"I am sticking with the negative case," said Greenberg. "I think this stock was priced for invincibility many points ago. It's still priced for invincibility. ... All I have to tell you is this: It's my favorite game. It's stock roulette."

Cramer then asked Greenberg what he thinks of Marvel. Greenberg had been bearish on Marvel when the stock was at $20, said Cramer. With the stock closing at $14.25 Thursday, "Is it a 'mon back?"* asked Cramer.

Greenberg said Marvel may have "some other movies that will get that to be the case." But, right now, "if you look at their guidance, they're starting to pay the price, I think, for aggressively recognizing revenues on some of their licensing deals," he said.

Of Knight Ridder, Greenberg said the company isn't going to get taken over by Tribune ( TRB) or any other large newspaper company.

But, "there is going to have to be this level of consolidation. There are still good assets. Ultimately it has to happen. I still feel very strongly about that," Greenberg said.

"Wow, you're really wrong about that," said Cramer.

Cramer summed up the interview saying he doesn't want to buy Marvel with "accounting problems." Hansen is "two thumbs up -- way up," he said. Of Knight Ridder, Cramer said, you're being a pig if you don't ring the register.

Get On Over to Under Armour

Wednesday Cramer recommended then day-old IPO, iRobot ( IRBT - Get Report), only to see the stock open too high Thursday morning to get in at a price where he thought you could still make money.

But Cramer says he has spotted the next hot IPO, athletic-apparel maker Under Armour.

Under Armour is scheduled to come public next week on the Nasdaq under the ticker symbol UARM at an offering price of $7.50 to $9.50 a share, said Cramer. Goldman Sachs is the lead underwriter.

"The only reason Goldman could possibly have for pricing Under Armour in the single digits right now is that they want the thing to run. I think it goes higher," said Cramer.

"Even if Under Armour opens 25% higher than where it's priced and you don't get any of the deal, I still want you to pick up shares the moment it starts trading," he said. "I think it's only going to go up from there like iRobot."

Cramer believes that Under Armour will be a big winner because the company has a "cult following" among college kids and athletes who've just finished school, he said.

Cramer said even though Nike ( NKE - Get Report) offers nearly identical products, ask anybody under 25 -- they all want Under Armour, said Cramer.

Press PLAY

Commenting on Portal Player ( PLAY) of which Cramer had been critical two weeks ago when it announced a secondary offering, Cramer said the company announced Thursday night it was withdrawing the offering and had guided up. "Portal Player's going higher," he said.

Of China Medical Technologies ( CMED), Cramer said it is piggish not to ring the register.

Lightning Round

Bullish

Cramer was bullish on Starbucks ( SBUX - Get Report), Sherwin-Williams ( SHW - Get Report), NitroMed ( NTMD), Wal-Mart ( WMT), SonoSite ( SONO), Activision ( ATVI - Get Report), Amgen ( AMGN - Get Report), Genentech ( DNA), Genzyme ( GENZ), Gilead Sciences ( GILD), Celgene ( CELG), aQuantive ( AQNT), Sears Holdings ( SHLD), CapitalSource ( CSE), CIT Group ( CIT), Terex ( TEX), Univision Communications ( UVN), Popular ( BPOP), Merrill Lynch ( MER), Goldman Sachs ( GS - Get Report) and Morgan Stanley ( MWD).

Bearish

Cramer was bearish on Ford Motor ( F), Williams Companies ( WMB), El Paso ( EP), Dynegy ( DYN), Unisys ( UIS), American Oriental Bioengineering ( AOB), Click Commerce ( CKCM), H&R Block ( HRB), Great Plains Energy ( GXP), Cimarex Energy ( XEC), Gateway ( GTW) and Peabody Energy ( BTU).

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

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

At the time of publication, Cramer was long Sears Holdings.

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."