On Friday's "Mad Money" TV show, Jim Cramer told viewers that he would not want to buy stocks at current levels. He recommended taking profits on 40% to 50% gains and buying on any weakness.

One of his favorite names is Celgene ( CELG), which he owns for his charitable trust, Action Alerts PLUS, because the stock hasn't been rallying the way many others have.

On Monday, Celgene traded up 16 cents to close at $42.31.

Cramer's "Speculation Friday" stock was America's biggest retailer, Wal-Mart ( WMT). It's a speculative play because of the Employee Free Choice Act before Congress, which should impact the stock, depending on the outcome. The act would make it easier for workers to form unions, which could cause problem for Wal-Mart, often criticized for its labor practices.

Cramer doesn't think the initiative is coming at the right time, and he doesn't think it will pass, so he's speculating on Wal-Mart stock, which he owns for Action Alerts PLUS.

On Monday, Wal-Mart closed down 37 cents at $53.43.

Cramer declared the "cola wars" to be over, with Pepsi ( PEP) the winner over rival Coca-Cola ( KO). Pepsi's strength is largely based on its Frito-Lay brand, which is benefiting from lower gas prices and an increase in business at gas station convenience stores.

On Monday, Pepsi closed down 2 cents at $52.67, while Coca-Cola was up 2 cents at $44.99.

In his "Mad Mail" segment, Cramer said that Sears ( SHLD) is cheap and that he's a fan of CEO Eddie Lampert. He wasn't a fan of Terex ( TEX) , which he thinks will continue lower, and prefers Caterpillar ( CAT), which he owns for Action Alerts PLUS.

Sears down $3.47, or 6.4%, at $51.22 on Monday. Terex was down 13 cents, or 1.2%, at $11.09, while Caterpillar closed down 84 cents, or 2.6%, to $31.31.

At the time of publication, Cramer was long Celgene, Wal-Mart, Pepsi and Caterpillar.

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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