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Although the U.S. has the only "government that is of, by and for the corporations," Jim Cramer told viewers of his "Mad Money" TV show Monday that he blesses market-players who dedicate up to 20% of their portfolios to international companies.

"The best reason to go overseas is that we stop being hostage" to what the Federal Reserve might or might not do, he said.

And even though investors might see bumpiness in a few of the emerging markets, such as Brazil, Cramer said there was no need to fear them.

He said he prefers Brazil-based Companhia Vale do Rio Doce ( RIO) as the single best play in the mining group, rather than BHP Billiton ( BHP) and Rio Tinto ( RTP).

One of the main reasons Cramer likes CVRD, he said, is because it recently acquired Canada-based Inco. The deal represents "the best in anticompetitive behavior" as CRVD was able to obtain a "hammerlock on nickel," he said.

Because Cramer believes that the acquisition has turned a competitive market into a near monopoly, he called CRVD a "mineral powerhouse."

He also said that because of CVRD's new Canadian exposure, investors can exempt the stock from his general rule of treating Latin American stocks as trades.

Not only is CRVD "dirt cheap," but if nickel prices increase, it could also be a "real winner," Cramer said, adding that he sees "endless upgrades" on the horizon for CRVD.

Oil-Slip Salvage

The market witnessed a slide in Oil Services Holdrs ( OIH) last week because of the fall in oil prices, Cramer told viewers.

"The whole industry looked positively dead," but then Thursday it all turned around -- even as oil was plummeting, he said.

Schlumberger ( SLB) raised its dividend by 40% and reported a "ridiculously good" quarter, which caused the stock to rise and turned the sector around, Cramer said.

Schlumberger, "the most conservative oil-service stock in town," severed the connection between oil-service stocks and the short-term price fluctuations of oil and "turned the bears into buyers," he said.

Particularly, Cramer said, the company said three things in its conference call that gave market players visibility and the confidence to bank on oil-service stocks based on their future.

First, Schlumberger explained that the need for oil-service stocks is still present even if oil prices are down, he said. The company also reassured investors that the price of oil would not go back to the $30s and $40s and that more drilling should be needed to produce the same amount of oil.

Last, Schlumberger said it expects to see "consistent high growth through the end of the decade," Cramer said.

Based on this call, oil-service stocks, particularly international ones, are buys on weakness. However, Cramer added that he was more concerned about the domestic oil drillers.

Big Feather for Capital One

Capital One Financial ( COF), which Cramer owns for his charitable trust, Action Alerts PLUS, is a triple buy, he told his viewers.

Even though the company offered earnings guidance that was worse-than-expected last Thursday, it turns out there was nothing to fear and the stock "reversed hard" on Friday, moving from $73 to $79, Cramer said.

The move, he explained, was because the guidance didn't matter in this case. Rather, it was the delinquencies that made the difference. While the shorts were betting heavily against Capital One for the long term and thought the credit card company would report a larger-than-expected increase in delinquencies, Capital One's delinquencies actually fell, Cramer said.

That's the reason for Friday's turnaround, he said.

Although Capital One may have reported low earnings estimates, by lowering its delinquencies it increased its multiple, he said.

Moreover, with fewer delinquencies, Capital One's earnings are more "trustworthy," which makes it a cheap stock and a triple buy in Cramer's book.

Armor Amour

Cramer welcomed Ceradyne ( CRDN) CEO Joel Moskowitz to the show and asked him if shareholders should be scared about the recent Friedman Billings' report claiming a big demand drop for body armor.

"You should not be scared," Moskowitz said. "We have more orders for armor going into 2007 than we've had in the history of the company."

Moreover, Moskowitz said that the company has had "extended conversations" with the U.S. government regarding what it needs for 2007 and 2008, and from those conversations, Ceradyne has been led to believe that the company is in "solid shape," as far as armor goes.

Cramer said he believes that Ceradyne is a "money maker" and said he is going to stick with the bull case on this one.

To view Cramer's interview with Joel Moskowitz, please click here .

Lightning Round

Cramer was bullish on Rite Aid ( RAD), China Mobile ( CHL), Genentech ( DNA), Amgen ( AMGN), Celgene ( CELG), Flir Systems ( FLIR), Nice Systems ( NICE), Google ( GOOG), Melco PBL Entertainment ( MPEL), SkyWest ( SKYW) and Under Armour ( UA).

Cramer was bearish on China Unicom ( CHU), Flextronics International ( FLEX), Nektar Therapeutics ( NKTR), Pfizer ( PFE), Force Protection ( FRPT) and Imergent ( IIG).

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


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

At the time of publication, Cramer was long Capital One Financial.

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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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