An 'In' to Indonesia

Indonesia is now the No. 1 coal exporter, more proof that the country has the commodities the market wants, including more oil than it can drill for and a ton of gold, Cramer said.

It's an amazing growth story. And to underscore the point Cramer pointed out that so many people are fighting to get into The Indonesia Fund ( IF) that it's trading at a 46% premium to its underlying assets. That means that the stocks in the fund are worth much less than the fund itself.

But Cramer said that viewers needed more self control than that. For those who want a piece of this growth story, he recommended Perusahaan Perseroan Perseropt PTelekomunikasi Indonesia ( TLK), also known as Telkom Indonesia.

The company has 71% gross margins, is a semi-government monopoly and is highly levered to the growth of the company, Cramer said.

Phone lies and the Internet are what you invest in when your underdeveloped country starts to grow up, he said.

Cramer said that the stock is a fast grower in one of the world's hottest economies, plus it has a decent dividend. "What's not to like."

The News on NuVasive

NuVasive ( NUVA) chairman and CEO Alexis V. Lukianov joined Cramer to discuss his company's most recent quarter and confusion that had surrounded the company's earnings guidance.

Cramer pointed out that a Wachovia analyst has said that the company could earn 20 cents to 23 cents a share. He added that this was a particularly aggressive call given the fact that the company hasn't been making money.

But Lukianov said that NuVasive hasn't given any guidance like that. While pure sales growth has been great, he said that his company plans to break even.

He said that his company's fundamentals have not changed, and that NuVasive doesn't have a lot of Wall Street coverage.

"There was concern and confusion over whether NuVasive had lowered its guidance before the most recent earnings announcement," Lukianov said. But he said that the company had not lowered its forecast or given 2006 guidance before the announcement.

He added that people are now getting excited about the company and the stock, given the fact that it had a great first quarter.

To view Cramer's interview with Lukianov, click here .

Lightning Round

Cramer was bullish on Ultra Petroleum ( UPL), Peabody Energy ( BTU), Finisar ( FNSR), BHP Billiton ( BHP), Southern Copper ( PCU), Ladish ( LDSH), Boeing ( BA), Amerada Hess ( AHC), Houston Exploration ( THX), Hana Biosciences ( HNAB) and Energy Partners ( EPL).

Cramer was bearish on Travelzoo ( TZOO), Tanzanian Royalty Exploration ( TRE), Moody's ( MCO), Covad Communications ( DVW) and International Securities Exchange ( ISE).

For more of Cramer's insights during the most recent Lightning Round, click here .


Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

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Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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