Jim Cramer was bullish on Transocean ( RIG), Taiwan Semiconductor ( TSM) and Xilinx ( XLNX) on his "Mad Money" show Tuesday night. All three stocks traded higher Wednesday.

On Wednesday, shares of Transocean closed higher, up $1.63, or 2.83% to $59.30. Shares of Taiwan Semiconductor closed higher, up $0.10, or 1.11% to $9.08. Shares of Xilinx closed higher, up $0.74, or 3.82% to $20.11.

Cramer said surging crude prices should be bullish for Transocean, as the company doesn't need additional cash, and sees demand for its rigs still outstripping supply.

Cramer said Transocean is also trading at a deep discount, just 4 times earnings.

Cramer said there's a rally coming in the semiconductor stocks, and the way to play it is with the little guys.

He previously recommended Taiwan Semiconductor as one intriguing name and Tuesday night added Xilinx to his buy list.

Cramer said Xilinx is poised for a big comeback, now that its guidance is topping Wall Street expectations and that the company should be the clear winner in the coming Chinese telecom stimulus package.

Trading at just 15 times its earnings, Cramer said Xilinx is cheap, especially given the company's lean inventories, which will allow it to raise prices. "I think Xilinx is going higher," he concluded.
At the time of publication, Cramer was not long any stocks mentioned.

Jim 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 Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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