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.

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